How to Close on a Property in 7-10 Business Days

My name is Aaron Trevino and I’m a credit analyst with Streamline Funding in Austin, Texas.

We’re a direct private lender that specializes in funding real estate investment projects across Texas.

We cover Austin, Houston, Dallas/Fort Worth, San Antonio, and a lot of places in between.

Streamline Funding helps builders, brokers, developers, and investors get their deals funded.

The beauty of hard money is that it offers you convenience and speed.

There’s less red tape (compared to a conventional bank).

Your local bank could take 30-60 days to close a loan. However, Streamline Funding can close within 7-10 business days.

Let’s give a few examples.

Say a builder wants to purchase a lot to build a house. We would help the builder purchase the lot and cover their construction costs to build the home. If the builder currently owns the lot and doesn’t need help purchasing the land, we can just cover the construction costs.

Our maximum loan amount is $6 million. Our lending parameters are getting more flexible, as consumer confidence is growing and there is more economic activity compared to months past.

I work as a credit analyst. The title sounds ambiguous, but I am a sales rep.

I make/take phone calls and speak with clients about their deals. I walk them through our process and assess how we can help them.

Their deal information will be put into a spreadsheet and we can give them a quick quote.

The most basic information we need for a quote is:

·      Purchase price:

·      Construction/rehab costs:

·      ARV

I have a mixed role as a deal desk (analyzing deals) and a sales rep (client facing and helping clients).

Once the necessary documents are received, we can fund real estate investment projects in 7-10 business days.

Here are a few of the documents that we would need:

New construction and fix/flip

·      Experience/credit score

·      Completed loan application

·      Construction budget (detailing start and finish of project – with projected timetable)

·      Executed HUD contract

·      Floor plans and elevations (new construction only)

We can also help with refinancing properties. Just need to know how long you’ve owned the land and if there’s any debt on the property.

Refinance

·      Would also need a HUD or CAD record (to show who owns the property) or warranty deed.

A great hard money lender is worth their weight in gold. They can be the difference between a deal won or lost.

To get started, fill out a loan application with a copy of your driver’s license.

It’s quick and easy, as it takes 20-30 minutes. It asks for some information about yourself, a proof of funds, and your experience (if applicable).

Above all, we are looking for Texas’ next new construction and fix/flip rock stars.

We’ve taken small investors and builders and helped them scale into larger operations that do bigger deals.

To learn more, feel free to message me or contact me at this email:

[email protected]