Cover the purchase and renovation of your next investment property with simple, fast financing from a dedicated in-house team.
Fix and Flip Loans Explained
From Acquisition to Rehab
A fix and flip loan is short-term financing that covers both the purchase and the renovation of an investment property in one loan. You get the funds to buy up front, then draw on your renovation budget in stages as you finish each phase of work. On the other hand an acquisition loan acts as a bridge loan. General loan terms:
- Project is for non-owner-occupied, single-family residence – i.e. SFR or RTL
- Short loan terms of 6 to 12 months, interest only
- Hard money rehab loans secured against the property's value, with no credit check
Flips We Fund
From a cosmetic touch up to a full renovation, our house flipping loans cover a wide range of projects. These are very shallow and general categories, so please reach out to talk to a loan officer about your specific project needs.
Cosmetic Flips
Light Touch-Ups and Finishes
A purely cosmetic renovation focuses on updating surfaces and finishes, so these projects tend to move quickly.
- Paint, flooring, and new fixtures
- Minimal structural changes
- Improving curb appeal
- Usually no permits required
Why Flippers Keep Coming Back to Boomerang
All Under One Roof
With options for bridge loans as well as RTL we can be a one-stop shop for non-traditional lending. No appraisal necessary, and our underwriters are in-house.
Funding in Hours Not Weeks
Move the moment the right property comes up. Boomerang's access to capital allows you to take advantage of quick property sales, so loan funds can land in as few as 24 to 48 hours.
No Credit Checks
As a non-traditional lender, we consider the value of the property/asset when deciding whether to move forward with a loan, rather than on your credit score. This means where other lenders may say, "No", Boomerang Capital will say, "Yes."
How the Draw Process Works
How do I access the constructions funds in my loan?
We have a simple, straightforward draw process that helps real estate flippers access the portion of the loan funds set aside for project improvements.
Two important things to note about draw funds:
- We only charge interest on the money that we've disbursed to you. Therefore, as we disperse more money in the form of a draw, the interest charged will also go up.
- We only reimburse. We don't advance or front fund any materials and/or labor.
Is a Fix and Flip Loan Right for You?
Boomerang's fix and flip loans are built for investors flipping single-family residences for investment purposes, not buyers looking for somewhere to live.
First-Time Investors
Applying for your first fix and flip loan? You'll work with an experienced loan officer who’s supported investors like you hundreds of times – and even completed projects of their own. They'll explain how the budget and draws fit together and what to expect at each stage.
Experienced Flippers
Flipped before? Then you know speed is everything. As experienced fix and flip lenders, we turn quotes around fast, fund your draws in-house, and are ready to back your next deal the moment you find it.
We're Not a Good Fit For
- People funding primary residences
- Institutions or investment funds
- New construction and ground-up builds
- Large multifamily or commercial projects
Loan Officers at Boomerang
We have an excellent team of Loan Officers that bring years of experience to the job. They know what it takes to successfully invest in real estate and get your project across the finish line. Our loan officers work closely with our borrowers throughout the country, and they look forward to connecting with you.
Andrew Bang
Brandon Jewell
Alexander Carrilho
Vanessa Montoya
Michael Nelson
Your Next Flip Starts Here
Tell us about your flip and one of our loan officers will get a quote back to you, often the same day.
Want to Talk Things Over First?
Pick up the phone to discuss the finer points of your project with one of our experienced team, at a time that suits you.
