RELOC is a Real Estate Line of Credit used to purchase and fix up distressed properties. However, it's currently not being offered due to Covid19. However, we are able to offer you Hard Money with our local lenders.
Real Estate Line of Credit Overview
This is a short-term financing option for real estate investors who want to purchase and repair distressed properties in 12 months or less. As of May 2020, we are not offering RELOC as a result of Covid 19. However, we are offering Hard Money. Please apply, so we can share the terms of a local Hard Money Lender near you.
Interest rates as low as 6.99%--interest-only payments (if balance is not carried, no interest accrues)
3 origination points due at close on each property purchased
Once approved, use line to purchase unlimited properties over next 12mo, no credit pulls or financial reviews.
The line will finance 90% of the purchase price and 90% of rehab cost on properties with a maximum loan amount up to 70% of LTV (stronger credit and more experience can get higher LTV and % of rehab financing)
All business owners must have strong credit (680+)
Must have sold at least 1 property over past 24mo and/or holds at least 1 rental property