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A short-term fix and flip loan is often thought of for properties that investors aim to renovate and sell for profit in a short amount of time. However, that same short-term loan can also be used to help you buy and renovate properties to then refinance into long-term financing to hold the property for cash flow and future appreciation. You can use this strategy when you’re investing in everything from single family homes, townhomes, condos, multi-family units, and commercial properties.
Let’s say that you’re investing in a house that needs to be renovated before you can rent it out. In that case, a fix and hold loan might help you meet your goals by giving you the funding you need to make the necessary changes to the property. And, once the renovations are complete, you’ll be ready to start profiting from your investment because it will be a desirable spot for tenants in search of a modern place to live.
A fix and hold loan can also come in handy when you need money to renovate a space in order to repurpose it. For example, if you’re investing in a commercial property and you need to convert it into an attractive and functional office space, this loan can give you the financial support you need to make those big changes before putting the property up for rent.
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