RECENTLY CLOSED DEALS
Lynx Lane – Cheyenne, WY
Our borrower took a non-traditional route in building his primary home. He is using hard money for the construction process due to its flexibility and ability to close quickly so that he can get started on the project without having to cut through all the red tape of conventional financing. Once completed and he is ready to move in, he will refinance with a conventional lender and have a beautiful brand new home to show for it.
2662 Thoreau - Fort Collins
In this deal, our borrower used the equity in their investment property to help pay for some unexpected expenses that arose. Rather than using conventional financing, which can take weeks to months to wrap up, she came to The Investor’s Source to get the transaction done quickly. The plan is to sell the home to pay off the loan and still have a little left over as a sort of profit.
2907 Jon St. – Colorado Springs
This borrower found a property that someone was eager to get rid of, making the price right for the home. Using connections in the construction industry, he was able to renovate the property for cheap, give the home an updated look, and turn a profit of about 15%. Finding the right property, and having the right connections can make for a quick and easy flip.
1145 Mazatlan Circle - Colorado Springs Tri-Plex
In this deal, our borrower leveraged the equity in a property that they already owned in order to put a down payment on another property nearby. They used The Investor's Source to obtain money quickly for the down payment while they worked on a conventional refinance, which would pay off our loan once completed. By using hard money, they were able to act quickly and not miss out on the opportunity to add another property to their portfolio.
4853 Irving - Denver
This deal was a straightforward fix and flip in Denver. The borrower is planning to turn the property from a two bed, two bath house into a 3 bed, 2 bath home. She will be doing some cosmetic work as well as giving the home a more updated feel. When all is said and done, she will have a fresh looking property to sell, and an opportunity to make some decent profit.
West Park - Carbondale
Our borrower was working with another hard money lender and needed more time--time that the current lender was not willing to give. We helped them out of their situation and established a plan to complete their project of turning this mountain home from a work in progress to a beautiful destination home. The property is projected to be completed this spring!
33630 County Road 23 - Windsor
In some cases, like this deal, a property doesn't need major renovations, but just a few minor updates to make the home much more valuable. The home was already in great condition and livable as is, however with $65,000 in renovations, the borrower was able to add roughly $180,000 in value to the home.
Not all fix and flips need to be complete transformations that involve demo work, sometimes you can find a great home and with some creativity make it feel like a whole new space with minimal labor involved.
255 Mt. Quandry St. – Grand Junction
This was a multi-faceted deal. Our borrower needed to secure the land purchase on multiple lots before he was able to begin building. We were able to assist in purchasing the land, and over time we will continue to pay down and pay off the land loan as we help him with construction costs to build on each of the individual lots.
This is the first of the lots and the borrower is set to make a profit of roughly 18% on this lot alone. Because the borrower used hard money, he was able to cut through the red tape that comes with conventional financing, purchase the land quickly when it became available, and worry about the finer details of the build after the lots were secured.
1310 N. Kingsley Drive - Colorado Springs Fix & Flip
This was a straight-forward fix and flip with experienced borrowers. A father and his two sons working together to complete the project. They found a great property in Colorado Springs that required minimal work that, for the most part, they could do themselves. The borrowers are projected to make around 15% on this deal.
1211 E. 7th St. - Cheyenne, WY
As we mentioned in last week's post, dealing with a hard money lender, like The Investor's Source, allows you the flexibility you need when renovating a home. As those who have done it before will tell you, you always seem to run into SOMETHING during the rehab process.
In the case of this property in Cheyenne, there was an unpermitted addition that was poorly done. The inspectors and contractors caught the foundational issues when doing their initial walk through, and were able to account for those repairs in their budget. The issue was that after they began the rehab process, during the demolition phase, they uncovered a gap in the ceiling between the walls of the addition, and there was light peering through the roof. We were able to work with the borrower and the contractor to put together a solution that was cost effective, didn't break the budget, and should bring additional value to the home.
1439 N. Franklin - Denver
Working with a hard money lender, like The Investor's Source, offers more flexibility than a conventional loan.
In the case of this property on North Franklin Street in Denver, the original plan was to "pop the top" and level out the roof line, creating more livable square footage on the third floor. When it came down to it, the cost of doing this, and the time it would take to get permitted, were not cost effective or efficient, so the borrower needed to call an audible. After determining the effect this change in plans might have on the value of the project, we were able to redistribute the funds accordingly, and allow the borrower to keep moving on their rehab.
With projects like this, you tend to run into some sort of hiccup, whether it be large or small, and having a partner that is willing to adapt to the changes with you, can be the difference in a successful flip and a complete disaster.
449/480 Dunmire - Construction to Permanent Financing
Our Borrowers on this deal had extensive experience in helping other people build their dream homes, and with the help of The Investor's Source, they were able to take that experience and knowledge and turn it into a profitable real estate business for themselves.
In this case, the borrowers were able to jump start their business by using hard money. This allowed them to purchase and build two properties at the same time, with little to no cash in the deal.
Green River, Wyoming – Multi-Family Residence
This borrower came to us from Wyoming, looking to purchase a multi family residence located in Green River. The property consisted of sixteen apartments that were organized in three buildings. The borrower had found such a great deal on the property that we were able to structure the financing so that she had little to no cash due at closing, and was even able to escrow a small portion of the payments. She will be able to refinance out of our loan and have a nicely cash flowing property to hold on to.
The Investor's Source is both Colorado and Wyoming's Premier Hard Money Lender. Whether you are an investor looking to quickly flip a single family residence, buy and hold a larger multi family residence, or anything in between, we are here to help. Visit our website for a full list of our loan programs, rates and terms.
3707 Zenobia St., Denver
The borrower came to us with an existing hard money loan and was looking for funds to finish up the project. In this case she needed the funds quickly so that the project was not held up.
The Investor's Source was able to get the borrower the additional funding they needed and was able to deliver in a short period of time. When working with investors it is important to be able to provide quick funding, especially in today's high demand market. The Investor's Source prides itself on being able to deliver on a short schedule.
West Park Street, Carbondale
The borrower came to us with an existing hard money loan. His initial plans for the project did not pan out and he needed a lender who was willing to help him through the situation. With the help of The Investor's Source, the borrower is able to continue and finish his project of turning this property into a highly desirable home outside of the Front Range. The borrower was even able to finance the entire project through our loan program, including the rehab costs and monthly payments. This is allowing the borrower to focus on the project and not worry about making their payment.
Our Borrower found a property with fantastic views, access to private amenities, and a unique sense of character. With the help of The Investor's Source, the borrower was able to cover 100% of the purchase price, rehab costs, and the monthly payments for a home that is located in a very rural area. This means that the borrower did not have to put any of their own money down, and they do not have to worry about making monthly payments.
The borrower has begun remodeling the property and stands to make a good profit, again with $0 in the game.
A major benefit of using hard money is that it is possible to purchase a property with zero of your own money in the deal. The Investor's Source provides solutions for borrowers, both in, and outside of the front range.
1331 Firestone Drive – Woodland Park Construction
Our Borrower was a builder/GC. In fact, he was the GC for another borrower/builder/developer of The Investor’s Source. The Borrower realized that it might make sense to build a spec home himself and sell it for a nice profit; in addition to building homes for his developer. The fact that lot he purchased was in the same sub-division as his developer didn’t hurt. The timing was perfect as all 5 homes – 4 for the developer and 1 for himself - were able to be built simultaneously.
The Borrower is now close to completion of all of the builds and will realize nice GC fees and profit all of the properties.
Builders/General Contractors are encouraged to apply for construction loans with The Investor’s Source, even if they have never built a home for themselves previously.
265 Everest Drive, Grand Junction – Land Loan to Construction Loan
Looking to build on a piece of land that you don’t even own yet? We may be able to help. Our builder had done a number of successful builds using our funding. In most cases he owned the land and only needed the construction funds. This time he also needed funds to purchase the lot. In general, we’ll lend 50% of the value of the land in an established sub-division. Because we had worked with the builder before, we were able to increase that somewhat and lend him the money to purchase the lot only.
Two months or so later, we lent him the construction funds, saving him 2 months of interest had we made the land and construction loans simultaneously.
At The Investor’s Source we’ll work with you to tailor our lending to meet your needs and make your deal as profitable as possible.
4 Homes on Firestone Drive, Woodland Park, CO - $1M+ Loan Size!
The builder came to us with an ambitious plan to build 4 houses – simultaneously! Obviously, with this size project we have to make sure the builder has the team in place to make this a successful project. Since she, herself, was going to be the GC, that was a big piece. Of course, extensive due diligence needed to be performed on her as the GC, but her track record and references checked out to the T and she demonstrated that even with the shortage of available subs in this market , her contractors could perform and get the job done.
We also needed to fund a loan size of over $1M and ensure that she had the available funds to close AND make substantial monthly payments.
When all was said and done, we funded the loan, she brought the funds needed to close, and all payments to date have been made in a timely manner. 2 of the 4 homes are projected to be completed within the next month, and the other 2 shortly thereafter – on budget and ahead of schedule!
1170 Galena St., Aurora
Think you won’t be able to get a loan from The Investor’s Source because the property is your primary residence? Think again! Though we aren’t able to make a loan to purchase a primary residence – unless you’re willing to control the property with a lease option; but that’s a topic for another day! – you can capitalize on the equity in your home as long as the funds are being used primarily for business purposes.
Our Borrower’s came to us with their home free and clear and in need of capital to help get her nail salon off the ground and to pay off some nagging credit card debt. We made the loan and paid off ALL of their debt with plenty left over for the business. Now, with a clean credit report, the Borrowers should easily qualify for conventional financing and be able to pay off our loan in 6 months or less.
Sterling Land Acreage
The Investor’s Source doesn’t make business loan per se, nor does it lend in California just yet, so how did we end up make a loan to help a Borrrower purchase an upscale Italian restaurant in Cyprus, CA? 1 word – cross-collateral!
The Borrower came to us owning two free and clear pieces of wheat-growing land in Sterling, CO. The Investor’s Source can usually lend up to 50% of the value of land in a platted sub-division but our lender bent those parameters a bit and made a 60% ltv loan to give the Borrower the $189K needed to complete the purchase of his 2nd restaurant!
If you are in need of funding, but the primary collateral doesn’t quite fit our lending parameters, we may be able to make a loan on another property you own so let us take a look, and we’ll let you know what we can do.
4064 E. 12th St. Casper, WY
The Investor’s Source is in full swing now making loans in Wyoming! Though our Borrower in this deal is only on her 2nd flip, she has shown the smarts to orchestrate a terrific rehab and has assembled the team (contractors, real-estate brokers, mentors, Investor’s Source!, etc.) to allow this to happen.
This particular flip is nearing completion and has only taken a few months to complete. Our Borrower found a buyer right at the beginning of the project and with this pre-sale should be putting tens of thousands of dollars in her pocket (as well as working at a full-time job) while giving the new homeowner a beautiful, and virtually new, home to live in.
Colorado Springs Property with Acreage
The Borrower was new to CO, but definitely wanted to make it home. He bought this as an investment property with the thought of living in it someday. He had 11 years of experience in property management and/or remodeling and is a contractor by trade.
There were 2 primary challenges to getting this loan funded, and both centered on the ability to get permanent financing down the road. One; the property sits on approximately 40 acres (residential, not farmland) and while many banks will not refinance this type of property at all, others will only give value to 10 of those acres and ignore the rest. The 2nd challenge was the Borrower’s credit score was lower than a bank would typically require to approve a refinance.
We addressed the acreage problem by requiring that the Borrower had a strong refinance lined up prior to close. Fortunately, the deal was brought to us by a reputable mortage broker who had a refinance lender ready to fund on the back end.
As for improving the borrower’s credit score, we put the him on our “Credit Improvement” program which gives a borrower the time they need to get their credit up, after submitting a plan on how they intend on doing so. This may or may not include working with a professional credit repair company.
The loan term is for 24 months, which will give the borrower plenty of time to get the property rented and refinanced.
Crosby Circle, Sedalia
Need a construction loan where you’ve already started building but are short on funds to complete? The Investor’s Source can help.
We recently closed on a construction loan in Sedalia, CO, near Woodland Park and Colorado Springs. Our borrower was having a custom home built by a very reputable builder. The project was on schedule and on budget and the borrower originally intended to self-fund the construction.
As so often happens in real estate, and in life, plans changed and outside funding became necessary – and needed to happen quickly! – as the Borrower didn’t want to slow down the project. The challenge for a lender was to dovetail the remaining budget into a structure designed to start the construction from square one. We were willing to take on that challenge and worked closely with the construction company to make the transition seamless.
With a remaining budget of approximately $175,000 when we took over the funding, the house is nearing completion with 2636 SF, 3 bedroom, 3 bath and an oversized 2-car garage. The home is on 5 acres in a very nice subdivision. Once completed, our Borrower will refinance the property as his primary residence.
Endeavor Dr., Johnstown, Commercial Warehouse Refi/Cash Out
Our Borrower needed cash for a commercial project he was about to begin and to pay off old debt.
He had recently completed construction of a commercial warehouse and secured a long-term tenant. Using the equity in the building was the obvious solution to get him the cash he needed. His brother, however, owned half of the building. The Investor’s Source and our lender stepped up to not only pay off the old debt, but to buy his brother out as well! The proceeds will help the Borrower raise his credit to ultimately get him the best financing terms available.
While some hard money lenders confine their lending to residential collateral, The Investor’s Source and our lenders are very comfortable lending on the equity in existing commercial buildings as well as providing new construction loans on commercial projects – of virtually any size!
North Spruce St.– Colorado Springs – Multiple Simultaneous Projects
The Borrower is a fairly new real estate investor in Pueblo & Colorado Springs. She came to us under contract on a 3 bedroom, 1 bath Colorado Springs property needing a lot of love. At the time she was finishing up another fix and flip.
We firmly believe that new investors should learn to walk before they run and that in general, working on one flip at a time to get started is a smart strategy. In this case, however, the Borrower had shown us enough initiative, assembled a strong enough team, and had good enough mentorship available to help her, that we decided that she had earned the right to work on multiple projects simultaneously. So we funded the loan. The rehab is now close to completion and in or near budget. A good profit is expected to be realized.
Real estate investors, old & new, quickly realize the value of assembling a good team. If you’re new to the game, we’ll work with you – and may even fund more than one deal at a time – but we’ll certainly be looking at who the pros are that you’ve surrounded yourself with, like our investor in the Springs.
Harlan Street – Lakewood
Hard Money for New Investors and Old Pros alike!
A common perception in the real estate world is that hard money is only for “newbies” and the real pros have plenty of money to do their own deals. While many of the “old pros” we work with do have plenty of money, they keep coming back to us. Why? They like working with us and they want to do multiple deals simultaneously! Jerry has been successfully flipping homes since 1985. He recently came to us with a high-profit-potential flip opportunity needing funding in Lakewood, CO, near the Lakewood Country Club. Jerry currently has many projects running, with a lot of capital required, so he thought it wise to expand his funding base and sought us out.The flip is progressing nicely, as are his other projects, and we expect it to be completed and sold within the next few months.
The Investor’s Source is thrilled to work with both new and experienced investors, to allow you to do mulitple deals simultaneously, and the more we work with you, the more flexible we, and our lenders, can be with our rates and terms.
S Washington - Casper, WY
On June 1st 2017, The Investor’s Source reached a significant milestone by closing our 1st loan in Wyoming – a fix and flip in Casper. The Borrowers were excited to find a hard money lender in Wyoming (we’re the only one we know of), our Lender was empowered as a trailblazer and the first of our Lenders to make an out-of-Colorado loan, and we were thrilled, as always, to help our Borrowers get the funds they needed to make this deal happen! Of course, crossing the border was exciting to us as well.
Denali Street - Grand Junction
Our Borrower/Builder needed funding for new construction of a single-family home in Grand Junction, CO. Banks wouldn’t touch the loan because the Borrower didn’t have the documentable income they required. Other hard money lenders said no
because either they don’t do construction loans, or they don’t lend outside the Front Range, or both. The Investor’s Source made the loan, as both Construction Loans and loans throughout Colorado are right in our wheelhouse. The Builder did a great job and recently completed the 3-bed, 3-bath, spec. home, located in a popular sub-division in town. To get optimum dollar on the sale of the property, he decided that landscaping and fencing the property – 2 items not in the original budget – would help sell it. The Borrower came back to us and inquired about getting additional construction funding for those items. In consultation with the Lender, we all agreed it would be a smart move and lent him the additional required funds. We expect the property to go under contract any day now.
Osage St. – Collaboration - This loan was for a fix and flip of a single-family home in the trendy, hot LOHI neighborhood of Denver. The property exterior needed a good amount of work and the interior a complete remodel, but overall, the property was in decent condition. When all of the numbers came in, the deal made sense from a profit standpoint, but the Borrowers needed an additional $40K to close – money they didn’t have. Instead of our rejecting the deal, or
the Borrowers walking away from it, we put our collective heads together and came up a solution that made sense: find a money partner. The Borrowers did just that and found a partner who put in the cash needed in exchange for an equity split on the back-end. The property was recently sold and a decent profit should be distributed to all. Moral of the story: if a deal makes sense, there usually is a way to make it happen!
540 Asbury Place - Loan Flexibility - The Borrowers original intent was to fix and flip this property. The Investor’s Source lent them most of the funds to both purchase and rehab the property. After doing a wonderful job with the rehab, the Borrowers fell in love with the property and decided to switch gears and keep it as a rental. Between rehabbing the property quickly, and the 3-month extension they received at closing, they should have the time they need to refi the property for maximum cash flow.
Akin Ave Fort Collins - Downtown High-Value Property - Co-Borrowers found a nice little property in Old Town Ft. Collins to fix and flip. They needed funding for the property, rehab and help with the monthly payments as well. Though there wasn’t quite enough room in the deal to lend the full 6-month payment amount, we structured the deal such that we escrowed 3 months of interest payments – to make ½ payments over 6 months. The Borrowers’ income was sufficient to cover the other half-payment. With the peace of mind that came with knowing they would be in good shape to make their payments, the Borrowers did a fast & professional job getting the house rehabbed and it is now listed and under contract.
5 Aurora Properties! - 2nd Position Loans - The Borrower needed about $300K cash - fast - for a down payment on a lucrative Denver investment property she had under contract. She already owned 5 rental properties and had good equity in each. She approached a number of hard money and private lenders, many of whom offered to refinace all 5 properties to give her the cash she needed. The only problem with this was that refinancing $1.6M of properties would have been VERY expensive; costing multiple tens of thousands of dollars. The Investor’s Source was the only lender she contacted who was willing to entertain the idea of doing 2nd loans on each property, thereby funding combined loans of approximately $313K rather than the $1.6M required to refinance all of the existing mortgages. The 5 loans were approved and funded quickly, saving the Borrower a ton of money and allowing her to purchase the property she was thrilled to be able to take down.
Aurora Condo – Cash-out bridge loan on primary residence to pay off an HOA lien so property can be sold to Borrower’s son. The Borrower came to us, in danger of losing his condo to a soon-to-be foreclosing HOA lien. His credit was such that he could not refinance with a traditional bank. The Investor’s Source stepped in and agreed to do a 2nd Deed of Trust loan – behind his mortgage – to pay off the HOA lien and give him a little cash in his pocket. We then just needed to figure out how the loan would be paid off, since a refi was out of the question. When all else fails…..go to family! The Borrower’s son had excellent credit and agreed, prior to closing, to purchase the house from his father and give his father the time he needed to get his credit repaired, at which time he would buy it back from his father. The sale will be able to pay off both loans. The son’s loan is currently in underwriting with full loan approval expected at any time.
Hambright - The Borrower came to us owning outright a single-family residence on 80 acres in Mack, CO. He needed cash out to complete the conversion of the warehouse that is on the property into a sellable home. Often times, a rehab loan involves escrow of the rehab funds. Not in this case. Because there was sufficient equity in the property, the Borrower received a check at closing for the full net loan amount. He was quite pleased about this, as well as for the ability to secure a hard money loan in a somewhat remote area of Colorado.
19th Street - Boulder
Borrower came to us needing funding for the fix and flip of a good condition, million
dollar plus home in Boulder, CO. The
property is located in a high-end neighborhood in one of the hottest real
estate markets in CO. With a rehab budget of $70K
and mainly cosmetic work required, this shaped up to be a fairly straight-forward
flip. The challenge, however, was the amount of money required to purchase and
fix up the property – over $800K. Since the loan to value could only support a loan
of $650K, some financial creativity was required, in addition to some deep pockets
to fund the loan! Thanks to the willingness of the seller to be flexible with terms,
and his belief in the talents and skills of Borrower, he agreed to carry a Note, in lieu
of cash, to the tune of $150K, to be paid back upon sale. That, plus The Investor’s
Source coming through with a loan amount of $665K, made the deal work!
W 16th – Pueblo
Diane came to us wanting to fix and flip a fair condition property in Pueblo. Due
to this being her first flip and the property being located in Pueblo, Diane had a
hard time locating a lender who would make the loan. For The Investor’s Source,
Pueblo was not an issue, as we make loans all over the state. As far as being a
new investor, that was not a problem either as we work with investors of all
experience levels. Diane, however, was smart and partnered up with an
experienced investor and real estate agent who she knew could help her with all
of the details of a flip. We made the loan and the partners are already moving
ahead with getting this property into top condition to sell it quickly for a nice
Our Borrower came to us needing a business loan, as his summer camp was
about to move into full swing and he needed marketing dollars quickly! Though
we do not make business loans per se, the Borrower owned a rental property with
good equity so that made the loan feasible. However, a typical 4 to 6 week bank
closing time was not going to work. The Investor’s Source streamlined the loan
process and, with great cooperation from the Borrower, was able to close the
loan in one week. We will do everything in our means to get you the funds you
need – when you need them!
Wild Plum, Loveland
Our Borrower needed a $30K loan to finish up repairs on a property he was going to flip.
He knew that most banks, private and hard money lenders tend not to make loans less
than $50K and even fewer who will make these loans in a 2nd deed of trust position. The
Investor’s Source was willing to make the loan since there was plenty of equity in the
property and even gave the Borrower a break on points and interest rate since we had
done successful loans with him before.
Baker Street Longmont
One of our steady customers needed funding to
purchase a Note at a discount to either sell or foreclose on. As he wouldn’t own
the property but just the paper, we couldn’t use the property as collateral. So we
agreed to lend on the Note (and Deed of Trust) itself as the collateral! As it turned
out, we wound up lending him most of the funds he needed for the Note purchase
using another property he owned free and clear as collateral. But now, we can
still use the Note itself as collateral for other deals he is looking to make.
E Lake – Fort Collins
Our Borrowers purchased a good-condition property in central Fort Collins, all cash.
They then came to us for the rehab funds, secured by the equity in the property. It was an
easy deal for us to fund, as there was plenty of equity, and it also allowed the Borrowers to
get their foot in the door with us – thereby making future loans that much easier and faster
to fund. The rehab is expected to take 3-4 months with the loan paid back shortly thereafter.
To make the loan as painfree as possible in the wallet, we escrowed 6 months of interest
payments which should carry them comfortably through the loan term.
Cty Rd 78 – Severance
The Borrower called us mid-day Wednesday needing to close a cash-out refinance loan by the
very next day! After being literally laughed at or hung up on by most lenders she called, The
Investor’s Source worked for the next 24 hrs to get the loan funded – and fund it we did! The
property used as collateral was a 5-acre parcel she owned in Severance that was already under
contract to be sold 2-weeks later, so a solid exit strategy was in place – and the selling price was
over two times the loan amount so the loan to value was low. She also used her primary
residence as additional collateral, making the security that much stronger. With these favorable
factors in place, the Investor’s Source used a common sense approach to determine that the loan
made sense. While 1-day closes are not something The Investor’s Source does every day – we will
work with you to move as quickly as possible to get your deals funded!
Horse Mtn - Livermore
This was a construction loan in a small town north of Fort Collins. The original
house burnt down in a fire a few years back. The Borrower approached numerous
banks for a construction loan, and, though he had good credit and reserves, was
turned down time and again due to the property being located in a mountain town
and for other quirky reasons.
The Investor’s Source LLC saw a solid deal, solid borrower and solid general
contractor and made the loan. The house is currently being built and should be
completed within 4 months, with a take-out permanent loan already approved by
a local bank.
Whitehead – Grand Junction
The Borrower is using a short-term hard money loan from The Investor’s Source LLC to purchase a
rental property. A frequent borrower of ours, he borrowed both the purchase price and rehab
funds and completed the rehab within weeks and already has it rented and cash flowing. It will
cash flow even stronger upon completion of his refinance with a traditional bank. Why not go
directly to the bank from the get-go? Answer: They weren’t going to lend on the distressed
property. But now that it is rehabbed, they will provide the long-term funding he needs.
Our Borrower lives out of state and called us for a loan for a distressed property in a hot Denver neighborhood – needing to close fast! The seller was about to lose their home to foreclosure and had a deadline of one week to close. Funds were needed to purchase the property with the Borrower supplying the rehab funds. We ran the numbers, did a quick property visit and closed in exactly 1 week – giving the seller the funds they otherwise would not have gotten and allowing our Borrower to buy a profitable property to fix and flip.
Grand Junction property
The Borrowers came to us for 100% fix and flip funding in Grand Junction – all the way out on the western slope of Colorado. While many investors assume that 100% funding is a myth and that hard money funding outside the Front Range is non-existent, The Investor’s Source came through and got the deal done. While the investors did need to come to closing with a few thousand dollars, 100% of the rehab was funded and funding in Grand Junction did not pose a problem The Borrowers are now well on their way to completing the rehab and should have the property on the market within a month or two.
2100 Road Delta, CO
Rental property loan for a purchase and minor rehab of manufactured home in Delta, CO about 1/2 hour southeast of Grand Junction. Large property with 3 RV hook ups included. When RV and Manufactured home are rented, income could be up to 1600.00
County Road 15, Las Animas, CO
Single Family Residence - Fix & Flip
Refinance loan for a fix and flip of a single family residence in Las Animas, CO a remote town 15 minutes east of Lajunta. The borrowers is an experiences contractor who owns the subject property outright. He uses slower business months to work on his investments
W. 95th Avenue, Westminster, CO
Single Family Residence - Fix and Flip
Even though this Westminster home had been partially updated, including the kitchen and flooring, our experienced investor saw value in finishing the basement (adding two bedrooms) along with completing the upstairs rehab. The Investor’s Source agreed that the additional living space should make this home very attractive to potential buyers in this highly sought-after neighborhood.
Lincoln St., Craig, Co
Single Family Residence - Fix and Flip
Two enthusiastic couples are pooling their talents and resources to transform a simple ranch house on a half-acre lot in Craig into a completely remodeled 4-bedroom, 2-bath home, with the help of Colorado hard money funding from The Investor’s Source LLC. Plans include turning two of the existing bedrooms into a master suite, as well as finishing the basement – making this an ideal family home.
Krameria St., Denver, CO
Single Family Residence - Fix and Flip
The borrower was looking to purchase a 1946 brick home in a desirable Denver neighborhood from a family member, who lived in the house until very recently.The Investor’s Source LLC loaned him the purchase price and the $80,000 in rehab funds needed to make the necessary upgrades and improvements. Factoring in the location, the basic charm of the home and the upgrades, we believe the borrower can expect tosee a significant profit upon sale of the property.
Cedar Street Properties, Windsor, CO
Six Properties on Lakefront Lot - Fix and Flip
The investors purchased a package of six properties on Windsor Lake, which included four single family residences, a fourplex,and an empty lot. The Investor’s Source funded the purchase and rehab. The successful sale of the existing buildings has provided the investors capital to develop the empty lot, with plans for a fourplex and two duplexes.
Rood Avenue, Grand Junction, CO
Single Family Residence - New Construction
The investor had purchased the lot, had the plans and permits in place, and the concrete work was underway, and needed a construction loan for completion of the project. The Investor’s Source, recognizing the potential value of the property, was able to fund the project within a time period that allowed the investor to adhere to his original construction schedule.
41st Avenue E., Greeley, CO
Single Family Residence - Fix and flip
Upon relocating to Colorado, the investor was eager to apply his contracting expertise to fix and flip properties but having challenges obtaining conventional financing. After determining that theinvestor had the vision and ability to renovate the home he had under contract, The Investor’s Source LLC funded the purchase and rehab with a Colorado hard money loan. The house sold four months after closing after only a few weeks on the market - for almost $40K over the appraised after repair value.
Chipeta Court, Clifton, CO
Four-Plex - Buy and Hold
The investors were enthusiastic and had done their homework, but were just getting started in real estate investing. Also, the targeted four-plex was outside the Front Range. They understood that managing a property long distance had its challenges but felt strongly about the deal. The Investor’s Source LLC recognized that the property had a solid rental history and would provide immediate cash flow - a positive start to the investors’ investment portfolio – and funded the purchase with a 24-month loan.
S. Broadway, Penrose, CO
Single Family Residence with “Accessory Building” - Buy and Hold
The investors found a property that included a bungalow and cottage, both in turnkey condition with renters interested in both dwellings and a value well over the purchase price. Since the estimated rents provided a positive cash flow. The Investor’s Source LLC was happy to fund this deal with a 24-month loan – plenty of time to refinance down the road. The borrowers are now well on their way to building an investment portfolio that should provide long-term cash flow and security.
Tijeras Drive, Colorado City, CO
Single Family Residence - Fix and flip
The investors had had credit issues. However, they were demonstrating sound judgment in their current financial dealings, and felt that a good way to rebuild their wealth was through real estate investing. The Investor’s Source LLC helped them toward achieving their goals by arranging financing and rehab funds for a single family residence that needed some basic TLC. The house has been successfully refurbished according to plan and is ready to go on the market.
E. Emma St, Boulder, CO
Fourplex - Refinance
The investors had purchased the property with an owner-carry short-term loan, needed to refinance but were not yet in position for bank financing. They did not want to lose the cash flowing property. They were also having difficulty finding a hard-money lender to provide a refinance of longer than 6-9 months. The Investor’s Source LLC stepped in and refinanced the Colorado hard money loan for three years – enough time for the investors to rebuild their credit for a bank refinance down the road.