Fix-to-Rent Rental Loan | Las Vegas, Nevada
PURCHASE PRICE: $500,000
AFTER REPAIR VALUE: $700,000
With a fix-to-rent rental loan from Anchor Loans, our talented borrower turned a badly beaten up single-family house in Las Vegas into a stunning rental home for a local family.
Although the property was clearly distressed, the investor recognized its great potential and leveraged a fix-to-rent rental loan to purchase the house for $500,000. With $60,700 in improvements, the former eyesore was transformed into a beautiful home.
This fix-to-rent project is an excellent example of the potential profitability of real estate investors using a rental loan to acquire and renovate rental properties.
Anchor's Fix-to-Rent Rental Loan Program
A rental loan can be a great option for property investors who want to purchase or refinance rental properties. Leveraging rental loan financing means rental property investors can grow their portfolios more quickly, and accruing equity can help them strengthen their credit. Anchor Loans fix-to-rent rental loan program features:
- Long-term, short-term and vacation rentals
- Up to 18 months on construction phase
- Rental phase 30-year fully amortizing or 5-year IO with 25-year amortizing
- $100,000 to $2 million loan amounts
- Up to 80% LTC on construction costs
- Up to 75% LTV on rental phase (as-is-value)
- 1.0x DSCR minimum for rental phase