Reissers Capital › Fix and flip loans
Real Estate
Fix and flip loans in Florida
Short-term financing for LLCs and corporations buying, renovating and reselling investment property across Florida. We underwrite the deal on the asset, and renovation funds are released in draws as the work is completed.
Business entities only. Not a consumer lender. Every loan is subject to underwriting and approval, and nothing on this page is a commitment to lend.
What we lend on
A fix and flip loan is short-term financing against a property you intend to renovate and resell. It is not a mortgage on a home you live in. The borrower is an LLC or a corporation, the purpose is business, and the exit is the sale or the refinance of the property.
We size the loan against three numbers: the purchase price, the renovation budget and the after-repair value. The maximum advance is measured against that after-repair value, which is why an honest budget matters more than an optimistic one.
- Up to 90% of the purchase price
- Up to 100% of the renovation budget, released in draws
- Terms from 12 to 24 months, interest only
- Loan sizes from $50,000 to $5,000,000
How fast we close
A preliminary term sheet is issued within one hour of receiving a complete file, during business hours. From there, closing typically runs from 48 hours to 14 business days.
What sets the pace is rarely us. It is the title work, the appraisal or valuation, and how quickly the entity documents come back. Files where the LLC already exists and the title is clean move fastest.
Who qualifies
We lend to business entities only. A recently formed LLC is not an obstacle, and an entity can be formed before closing if you do not have one yet.
Our standard programs use a minimum credit score. We also run asset-based programs underwritten on the property itself, with no FICO score required, at lower leverage and different pricing. Foreign nationals borrowing through a US entity are welcome on those programs, and no US credit history is required.
Any enquiry uses a soft credit pull only, which never affects a credit score.
How the draws work
Renovation funds are not handed over at closing. They are held and released in draws as the work is completed, which protects both sides.
You complete a stage, request a draw, an inspection confirms the work, and the funds are released. Interest accrues on what has actually been drawn, not on the full renovation budget sitting unused.
What we need to quote
Very little at the start. The property address, the purchase price, the renovation budget, the expected after-repair value and the entity name are enough for a preliminary term sheet.
The full file comes later: entity documents, the purchase contract, the scope of work and a valuation. We tell you exactly what is missing rather than leaving you to guess.
Questions
Fix and flip questions
How much do I need to put in?
On our standard fix and flip program, up to 90% of the purchase price can be financed, so the cash you bring is typically the remaining 10% of purchase plus closing costs. Renovation is separately financed up to 100% and released in draws. Actual leverage is set against the after-repair value and is subject to underwriting.
Can I borrow if my LLC was formed last week?
Yes. A recently formed entity is not an obstacle, and an entity can be formed before closing. We lend to business entities only, never to individuals in a personal capacity.
Do you require a credit score?
Not on every program. Our standard programs use a minimum FICO score. We also have asset-based programs underwritten on the property alone, with no FICO score required, at lower leverage and different pricing.
Will an enquiry hurt my credit?
No. We use soft pulls only when reviewing a file, and a soft pull never affects a credit score. Any hard pull would happen later, with your written consent, and only where a program requires it.
How is the after-repair value determined?
By an independent appraisal or valuation ordered as part of the file. Your own comparable sales help us quote quickly, but the figure that sets the final leverage is the one that comes back from the valuation.
What happens if the renovation runs long?
Terms run from 12 to 24 months precisely because projects slip. Extensions are considered case by case. Tell us early rather than late, it is almost always solvable when there is time.