Fix and Flip Loans inCleveland, OH

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i FUND CITIES - Fast Fix and Flip Loans for Cleveland, Ohio, Real Estate Investors

i Fund Cities is an alternative, non-bank, private money lender providing fast, flexible, reliable, and investor-friendly financing to real estate investors in and around Cleveland, Ohio. If you are investing near Cleveland including in Cincinnati, Columbus, and you need investment funding for purchase only, new construction, rehab, cash-out or rate and term refinance, BRRRR, short-term rentals, build to rent, or otherwise, then give us a shout!

Fix and Flip Loans Rates As Low As 9%*

i Fund Cities Fix and Flip Loans can provide the cash you need to grow your real estate investment property portfolio:

Advantages of our Fix and Flip Loans in Ohio

Fix and Flip Loans as Low As 9% in Cleveland, Ohio

i Fund Cities Fix and Flip Loans get you fast, flexible, and reliable funds for your next Cleveland, Ohio real estate property investment!

What Makes Our Cleveland, Ohio Fix and Flip Loans Awesome?

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  • Faster than a bank
  • Cheaper than hard money
  • Loans built for investors by investors
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Hey Cleveland, Ohio investors! Need a Kick A$$ Fix and Flip Loan?

We are experts in providing alternative, non-bank Fix and Flip Loans for Cleveland, Ohio, real estate. Our fast, flexible, and reliable Fix and Flip loans are for Cleveland investors who need financing that is faster than the bank and cheaper than hard money. Our lending team will help you get a Fix and Flip Loan for your Cleveland, Ohio, property investment dialed in pronto! Call us at 215.770.1505 or Get an Instant Rate Quote

Fix and Flip Loans in Cleveland, Ohio

What are i Fund Cities's current Fix and Flip Loan rates in Cleveland, OH?

i Fund Cities offers Fix and Flip Loan rates as low as 9%.

Word of caution: do not believe the low rate marketing gimmicks you see out there in the lending world. Rates are always determined by the following criteria:

Real estate asset
Investor experience
Investor credit score
Investor liquidity

Can you provide an example of how Fix and Flip Loan numbers might work in a deal?

Sure! Here’s what a Fix and Flip Loan breakdown would look like:

  • Purchase price of asset: $30,000
  • Renovation budget: $75,000
  • Total loan amount: $105,000
  • I Fund Cities can lend up to 90% LTC so ...
  • Maximum loan amount would be $94,500, which is above our minimum loan value of $75,000

What length of loan terms does i Fund Cities offer for Fix and Flip Loans in Cleveland, OH?

i Fund Cities offers Fix and Flip Loan terms of up to 24 months

Do you lend on both a property purchase and the repairs for Fix and Flip in Cleveland, OH?

Yes. We lend 100% of the construction financing and up to 80% of the purchase price of the asset in and around Cleveland, OH.

What property types does iFC offer Fix and Flip Loans for in Cleveland, OH?

We offer Fix and Flip Loans on the following property types:

Single Family Residences (1-4 Units)
Townhomes
Condos
Multifamily (4 to 50 units)
Commercial, Mixed-Use (must have 50% residential for us to lend)

Are there any exceptions to property types for your Fix and Flip Loans?

We do not fund properties in Cleveland, OH that are designated as "rural."

Does iFC have a minimum credit score for Fix and Flip Loans in Cleveland, OH?

Yes. For Fix and Flip Loans, we require a minimum FICO score of 600.

Does iFC have minimum and maximum loan amounts for Fix and Flip Loans?

Our minimum loan amount in Cleveland, OH, is $75K and our maximum loan amount is $5M.

What states does iFC lend in?

We lend in all 50 states except for California, New York, and Nevada.

Can I borrow from iFC if I am from another country?

iFC can provide Fix and Flip Loans to both U.S. Citizens and Foreign Nationals.

What documents do you need from me for underwriting Fix and Flip Loans in Cleveland, OH?

For Fix and Flip lending in Cleveland, OH, our underwriting process is less extensive than a traditional bank. We also make it as transparent and straightforward as possible.

Documents needed:

1. Contact info for Buyer (and Guarantors), and Title, and Insurance Companies
2. Loan Application + Driver's License
3. Agreement of Sale or Deed
4. Buyer's Real Estate Experience/History
5. Project/Entity Information
6. Construction Budget
7. 2-Month's Bank Statements
8. ACH Wire Transfer Info and W-9

Do you do an appraisal for Fix and Flip Loans in Cleveland, OH?

Yes. We do an appraisal using LOCAL Cleveland, OH, appraisers. (Using appraisers from large, national appraisal management companies can impact appraisal quality and slow down the loan process.)

Do I need a business entity to get an iFC Fix and Flip Loan in Cleveland, OH?

Yes. You will need to have an LLC, a Limited Partnership, a General Partnership, a Corporation, or a Trust.

Is there a prepayment penalty?

No

Can I (or a friend or family member) live in my Fix and Flip property.

As the borrower, you are not able to live in the property. However, a family member can occupy your Fix and Flip property in Cleveland, OH.

Fix and Flip Real Estate Market in Cleveland

Cleveland, OH, Key Indicators Like “Average Home Price” for Fix and Flip Properties

Every real estate investor, especially Fix and Flip investors, will benefit from learning how to analyze local market conditions when looking to invest in property in Cleveland, OH. There are many things to consider when deciding whether Cleveland, OH, is a good market for Fix and Flip investments. Factors such as the city’s “Average Home Value,” “Homeownership Rate,” and “Median Household Income,” can help investors understand the metrics of buyers and renters in Cleveland. Fix and Flip investors can also check out Cleveland “Average Home Remodeling Costs,” and “Median Monthly Housing Costs.” These metrics will help investors calculate the costs of fixing, flipping, and renting Cleveland properties. When it comes to selling, every investor wants to make more than they have spent, of course, so it’s helpful to know whether home prices are going up or down in Cleveland, as rising home prices can signal a stronger market for both selling and renting properties.

Be a Fix and Flip Pro in Cleveland: Free 85+ Item Construction Checklist

Average Days on Market (DOM) Data for Cleveland, OH, Fix and Flips

When there are more buyers than there are houses to buy in a market, it creates something called a “Seller’s Market,” which drives up property prices. A Seller’s Market can impact the purchase price and the sale of every type of investment property, from Fix and Flips to Multifamily, to Rehab to Rent, to New Construction. That’s why knowing how many days it takes to sell a home listed on the market, the “Average Days on Market” (DOM), is a big deal for a Fix and Flip investor in a city like Cleveland. Knowing whether your investment property is in a buyer’s or a seller’s market can indicate who will have an advantage when the real estate investor goes to buy, sell, or even rent the property.

Real Estate Inventory Data for Cleveland, OH, Fix and Flip

If a market like Cleveland is flooded with homes for sale and rent, it just makes sense that real estate investors, including Fix and Flip investors, are going to have a tougher time when they go to sell or rent their investment property, than if there is a lot of competition for properties. That is why knowing the “Real Estate Inventory” for Cleveland is important information if you are considering a Fix and Flip investment.

Key Growth Factors in the Cleveland Real Estate Market

Commercial: Cleveland businesses include diversified industries such as Health and Medical, Tourism and Hospitality, Technology, Manufacturing, and Professional Services

Economy: The development of Cleveland's top companies and industries will continue to be key drivers in the growth of the city's real estate market.

Education: Graduates from local Cleveland schools, as well as those from nearby schools and universities, provide a foundation for the growth of the city's businesses and industries.

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