Fix and Flip Program for Colorado and Arizona Real Estate Investors

For investors interested in taking advantage of resuced property values by participating in renovating and re-listing properties should take a look at the great investor program we are offering our clients.

This product is specifically designed to accommodate investors who want to purchase and remodel fix-up properties in order to sell them for a gain or to refinance them under conventional terms once the property has been remodeled. The program not only works for 1 to 4 residential units, but also for commercial properties which have 5 or more units. The program is offered in metropolitan Denver, Colorado and surrounding cities, also in metropolitan Phoenix, Arizona and surrounding cities. The loan term is for 180 to 360 days, depending on property type. There are NO prepayment penalties and interest only payments are due monthly.

PROGRAM HIGHLIGHTS

Our investor lends up to 90% of the purchase price and additionally lends 90% of the improvements that the borrower estimates they will make to the property. The borrowers are allowed to do work to the property themselves as it is not required that contractors complete the work.

We can use equity in other properties (known as cross-collateralization) for the down payment on the fix-and-flip property so that the borrower does not have to put cash into the transaction, provided that our loan-to-value and other guidelines are met.

We allow the properties to be titled in the name of corporations, partnerships or limited liability companies. This is very popular with fix-and-flip investors.
Borrowers who are self-employed find the loan quick and easy to qualify for because we have flexible income underwriting.

We do not have a specific limit on the number of investment properties that the borrower has financing on.

We close these loans very quickly. We typically provide approvals within 24 hours and many closings occur within 1 (one) week of approval. Our quick closings often help the buyer get a contract over other prospective buyers.

We do not have any prepayment penalties. Naturally, this is of great importance to fix-and-flip investors.

We allow partial releases of multiple unit properties.

Valuable Information for Flipping Real Estate from Armando Montelongo of the Hit A&E Series "Flip This House"

As many of you know, I have been on an interesting journey since making my debut in Real Estate Reality Television by virtue of the HGTV hit series "My First Place." One of the greatest joys for me has been meeting a variety of new people who share my passion for real estate and my love for the emerging media called reality television. I have had the good fortune of getting to know David & Melina Montelongo and Armando and Veronica Montelongo all from the A&E show "Flip this House," and successful real estate investors from San Antonio, Texas.

As I have previously posted, I have had David Montelongo on my radio show and have posted his tips for real estate investors. Please see: One hour of education from an expert...PRICELESS. In addition, we are looking forward to participating in David and Melina's investor workshops this summer and fall in Texas.

There is something very important that I want to share with you today. Armando Montelondo has authored a new e-book titled "Flip it Now!" and as part of the launch Armando is making five pages available to you free of charge.

If you are interested in obtaining your five free pages of the book click on this link:

Armando Montelongo's E-Book Free Offer

Armando has also teamed up with Internet millionaire Joel Therien, president of http://www.hotconference.com/ a very popular website and has launched a new site Armando Montelongo . Armando Montelongo's new site is very different in that it allows people to communicate in real time audio and video conferencing in a secure environment. People can join free knowing that others on the site will enjoy learing about their opportunities. The site is a social networking site catered to one market, entrepreneurial people and business opportunity seekers. "The site is there for all types of people who want to meet with others who have some of the same business interests" says Therien. The site caters to success minded individuals.

You can visit the site at:

Armando Montelongo Site

Real Estate Today! Radio Show Commentary from 02-24-2007

The Real Estate Today Team has launched an initiative we call "Empowered Living," designed to identify, coach and create a minimum of 100 first-time home buyers in Colorado by the conclusion of 2007. In addition to assisting the buyer with the selection of the best valued home available, we will also provide access to a variety of down-payment assistance programs including grants and low interest loans with payments deferred for up to five years. I would like for anyone who is currently renting and wishes to achieve the dream of home ownership to contact me at http://www.realestatetodayshow.com/ or contact my office at 303-840-2319.

We have developed a valuable resource for fix and flip investors. Please contact us and request your free "Fix and Flip Investor Resource Guide."

We have a free resource to allow individuals to access all of the available listings in the Multi List System (MLS) using a private password protected website. To register, log on to http://www.RKYMTNMLS.com/.

I admit that I am a fan of real estate reality television and I think the programs on both A&E and TLC serve to show what is possible and the potential pit falls when flipping real estate. I had the honor of welcoming David Montelongo of Montelongo House Buyers and the hit reality television show “Flip this House” as a guest on our radio broadcast the Real Estate Today Show. I think that the Montelongos represent what is possible in a very entertaining way; they have a wonderful family story. Needless to say, David’s appearance on our program was greatly anticipated.

David shared ten tips for becoming a successful real estate investor and provided me with permission to post these on my blog.

Here are David’s Tips:

1. Forge strong relationships with foreclosure agents so that when a new listing comes up you’re the first to hear about it.

2. Create a power network of fellow investors, a TRIBE, if a deal doesn't work for you, it may work for someone else in your network.

3. Try not to see other investors as competition, but as allies. This will create opportunities to be involved in more deals.

4. Set your construction budgets early, do everything in your power to stick with your budgets.

5. There are always unforeseens give your budget a line item for cost-overruns.

6. Have your Contractor visit the property with you BEFORE you close. This will remove some of the unknowns.

7. We are all motivated, both positively and negatively. If you find your positive motivation, it will be easier to find the next deal.

8. You are the greatest asset you possess. Invest in your education. Every time I attend a RE workshop I come away with a new technique.

9. Join your local Real Estate Investor Association; this is a great resource for rehab lenders.

10. Don’t be afraid to partner on a deal, partners can leverage each others strengths to create a win-win situation.

During my research for the show, I discovered that both David and his wife Melina share a heart to give back to the greater real estate community and they wish to share their success with others. I believe the cycle of living, learning, succeeding and giving back is the essence of significance. The response to our shoe was wonderful resulting in great questions on air from our listeners and calls from Realtor partners and several investor clients of mine who regularly listen to the program. The subject of fix and flips is a popular one on our show and the opportunity to learn from an expert was tremendous.