Refinance Listed Fix-and-Flips Without Delisting
Cash-out bridge loans for listed fix-and-flips — refinance hard money, stay on MLS, pull equity, and buy time without selling the property first.
Want the full breakdown with underwriting details, FAQs, and next steps? Read Refinance a Listed Fix-and-Flip: Cash-Out Bridge Loan.
Video transcript
Lightly edited for clarity.
It's no mystery that properties are staying on the market longer and longer for fix and flip investors. And so if you have a short-term loan on those properties, like a hard money loan or something, do not wait until the loan matures to get out of that loan or ask for an extension.
If you do need to get out of that loan and you want to pull some cash out along the way, we can do what's called a cash-out bridge loan. We can take the appraised value, pull up to 75 to 80% of the value out, pay off your other loan, give you another 12 months, and you walk away with the difference. So you can still go start your next project without having to sell the property, and you can leave the property listed throughout this entire time.
So don't wait until you default or mature. The 10-month point in a 12-month loan is probably a good time to make a decision as to what you're going to do. You can also throw a tenant in there on a month-to-month or a short-term lease to get that done too.