Located 27 miles northwest of Houston, the city of Spring, Texas is just one of the competitive housing markets in the state. As of August 2023, Redfin rates Spring as a “very competitive” market. Homes in the area are receiving 3 offers on average and stay in the market for an average of 17 days.
Let’s take a look at a recently completed fix and flip project financed by a short-term residential loan from Longleaf Lending. This 1,300 sq-ft property with 3 bedrooms and 2 bathrooms was purchased for $180,000. It was rehabbed for 22 days with a budget of $60,000.
The fix and flip loan from Longleaf Lending covered both the acquisition and the renovation costs of the project. The After-Repair-Value (ARV) of the property is now at $325,000.
Here are some before and after photos of the project.
Are you a Texas real estate investor looking for financing for a fix and flip project, rental bridges, loan refinancing, or land purchase?
At Longleaf Lending, we offer short-term residential loans with the fastest closings on the market. No minimum credit score required with rates starting at 12.5%.
Submit a loan request and get a Proof of Funds letter from us to strengthen your next deal. Even without a specific property in mind yet, you can apply in advance so you can enjoy a smooth process that helps you grab and close deals quickly as soon as the next one shows up.
We also offer other loan programs to suit different needs of our real estate clients. Check out our loan programs here.
Here in the Longleaf Lending website, we feature some of the completed projects funded using our loan programs. If you recently worked with Longleaf and you’d like us to showcase the completed results of your project, talk to the Loan Officer and we’d be happy to feature your projects here on the site.