What are the requirements for Financing?
Our underwriting guidelines require all investors to meet a minimum credit score and liquidity requirements with a minimum cash on hand. As a reminder, these requirements can change at anytime with or without notice. Ask your relationship manager for the most up to date requirements and qualifications.
How does the process work when acquiring a property?
To acquire a vetted fix and flip property you must first register as an approved buyer, select one of our properties for sale, review the property overview & comparable report provided and adhere to the investor deal scenario for the required down payment and acquisition expenses.
Is earnest money required?
Yes. We require earnest money anytime a purchase agreement is executed and before scheduling a closing date. The minimum earnest money required is $2,500 at binding and shall be held in escrow with the closing attorney listed on the purchase agreement.
How soon can I close?
To acquire a vetted fix and flip property you must first register as an approved buyer, select one of our properties for sale, review the property overview & comparable report provided and adhere to the investor deal scenario for the required down payment and acquisition expenses.
Can I invest from out of state?
Yes. Mail away closings are available for distant or out of state investors.
What participation is required from investors?
Investors may be required to make and/or receive phone calls while undergoing the application process. We also require investors to advance a minimum 10% of the construction budget to start construction. These funds are reimbursed to the investor via a draw request and then recycled back into the project and repeated until construction is completed.
How soon does construction start after closing?
Most construction projects start immediately but depending on the scope of work a building permit could be required. It can take on average 1 to 30 days or more to acquire a permit and the assistance of an engineer and/or architect may be needed.
How long does it take to complete construction?
Project completion timelines can range from 30 to 90 days on average. The scope of work provided is utilized as a guideline for completion. In addition, there are many variables that disrupt projects such as inspections, materials, weather etc..
How much money can I make?
Our investors are yielding 100% – $150% ROI based on their cash to close minus any seller expenses such a carrying cost, agent commissions, etc…
Our Guarantee
At Relotz, informing our clients is of the highest priority, so we make sure we have answers to every question you ask. Our goal is to meet your expectations with our knowledge, expertise and experience.