New product combines fix & flip/construction loan with 30-year rental loan
A new loan product has been launched by specialist lender Lima One Capital, a national lender for real estate investors.
The new Fix2Flip and Fix2Rent options allow investors to combine a fix and flip or construction loan with a 30-year rental property loan, with a single closing.
”Earlier this year, we began hearing from our clients about the need for a one-time close loan that combined a build or rehab component with long-term rental financing. We worked closely with our sales and operations teams to make an extremely cost effective and seamless product, one that is well-suited for anyone executing build to rent, rehab to rent, Opportunity Zone, or other related strategies,” explained Josh Woodward, Lima One Capital CFO and Head of Product Development.
The new product means that investors can hold the property rather than sell or search for a new permanent loan, with one closing reducing time and fees and committed long-term financing for the subject rental property.
“Lima One continues to be first to the market with creative and innovative lending products that are tailored to our clients’ business models. Our new Fix2Rent and Build2Rent programs are the latest offering to help our real estate investor clients enhance their rental investments. We’re very excited about this new lending offering,” said Jeff Tennyson, Lima One Capital CEO.
