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- Non owner-occupied single family
Overview
As a Private Money lender and broker for real estate investors, Tagpoint Funding does most of the leg-work for you, while you do rehabs, fix and flips and build up your real estate portfolio and cash flow all your deals.
Whether it’s for wholesale, rehab, fix and flip, or buy and hold for long-term cash investment deals, Tagpoint Funding delivers fast and easy access to Private Money.
Since 1987 I have started, developed, and sold multiple companies in the home services industry, commercial records management, local marketing services, real estate investment, and lending. Our records management company recently sold to the world's largest fortune 1000 company in the industry.
Tagpoint LLC, through our Tagpoint Funding brokerage service, matches real estate investors with customized short-term fix and flip and long-term rental property loans through our growing network of private money loans.
1. Fast Funding: Time is money in the real estate business. Unlike traditional loans that can take weeks or even months, private money loans can be processed and funded within a few days or a couple weeks.
2. Bad Credit? No Problem: Private money loans don’t need you to have good credit, the property that is going to be backing the loan is the only thing that will be looked at to make sure it qualifies.
3. Real People Lending Money: People with money sitting in low paying CD’s and other investments are looking for better opportunities for their money which is where you come in with your real estate flip. It’s a win win for both sides.
4. Creative Opportunities: Banks stay away from loaning money for fix and flip projects but private investors love this kind of opportunities. This is why they are able to provide creative funding solutions.
5. Flexible Terms: Traditional loans are bound by strictly-enforced guidelines. Private money lenders understand this business better and are more willing to work with you to create a loan that works for your project.
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Bridge loans
Cashout refinance
Fix and flip loans
Ground up home construction loans
Long term financing (10+ years)
Long-term rental loans
Private money loans
Residential hard money loans
Transactional funding (1-3 days)
Non owner occupied loans
Answer: Three to four days after we receive all required documentation, which can often take three to four weeks. Though we can do it faster, a good estimate would be three to four weeks after we receive the basic application package. The key factor is the amount of time it takes you and your team to supply all the supporting documentation.
We can do our part in 3-4 days, but first-time borrowers rarely get us the documents quickly enough and complete enough to meet that. Go for 30 days or more whenever you can. Remember: if time to close is a factor, you probably have competition. Competition does not usually translate into a good deal. Forget such a deal and go find a good one! (Admittedly, sometimes other factors dictate closing time. If that’s the case, bring us the deal and let’s discuss it!)
We serve real estate investors with creative solutions to their funding challenges. When you're qualified, we have the ability to fund 100% of the purchase price, 100% of the rehab cost AND 100% of closing costs- up to 70% of ARV. This means you can do more deals. With our 100% funding, you no longer require the cash reserves to start your next project.
Yes, for the right deals. If the numbers work and we think the deal will be profitable, we will loan on the After Repair Value (ARV). We recommend you have solid experience doing or managing such repair work. You will need to supply licensed contractor bids as well as meet certain other requirements. Bring us the deal and let’s discuss it.
Yes! We love fix and flip investors! If the deal makes sense, we will help you get it done. Speak to a loan officer for more details.
Legal and regulatory reasons. Our current business model is to provide bridge loans to real estate investors for terms ranging from three to 24 months. As a result, it is not cost-effective for us to implement the complex and restrictive processes and rules required by regulatory agencies to do business with owner-occupants.
Yes! It may be used as cross-collateral or used for a cash-out refinance. That is a great strategy! If you have properties that are completely paid for with no liens against them, we can do a cash-out refinance to provide funds for other non-owner occupied investments. You can also use them as cross-collateral for your real estate investing. We use both your subject property and your free and clear property as security for the loan. In doing that, we can lend up to 65% of the as-is combined value of the two properties. That is often enough to purchase your subject property and rehab it. If you have free and clear properties, mention that on your next deal!