FAQ

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FAQ’s

A bridge loan is a short-term mortgage that is used to finance a property until permanent financing is found, the home is resold, or the home is rehabilitated and then resold. Property investors who fix and flip properties are the most common customers of Right Place Capital Partners bridge loans.
The process is simple and reliable. To apply for a loan, start by completing the online Get Funded questionnaire. We’ll ask you a few quick questions about you and the home you’re interested in. From there, we make it easy to finish a full application by submitting your deal using the free Property Fixer app from ITunes. There you will provide information on your deal and upload the PDF to a link on the cloud we will send to you. Our dashboard will also make sure you know exactly where you stand at each step in the process, even when the loan is going through our underwriting processes. Check out our explanation of how the process works.
After we evaluate you and your deal, if you are eligible to become a preferred ground partner in your market, we will send you a term sheet that provides you will all the terms and conditions relating to our investment into your deal.
Timing to close will vary depending on the terms of the individual loan. We will fund loans as soon as possible once we have received all of your information, performed a valuation of the property, and verified documentation. The sooner you provide us with the needed information, the sooner we can push your loan forward to closing.
Right Place Capital Partners is a direct capital provider. We invest our own funds into your deals to make sure you close reliably and on time. Unlike institutional private lenders who typically sell the paper, after closing, we remain invested in your deals as a consultative capital partner until resale.
Our bridge loan program focuses on property investors who need short-term financing for a non-owner occupied residential home they intend to resell for a profit. We offer two two programs. Our preference is to structure deals as profit shares because this aligns our interests with yours and helps you with cash flow challenges since we don’t get paid until you do—when the home sells to the retail buyers. We can also sometimes structure deals as “points and interest” transactions, where points are paid at the acquisition close, and interest-only payments are made monthly. Even our points and interest deals are preferable to traditional lending sources which often require monthly interest and principal amortization payments.
If you have done a handful of successful deals, can demonstrate good deal flow, can show that you have managed your financial obligations well and are trustworthy, then you are on your way. If you can demonstrate that with ready access to capital you will grow your business to be a leading flipper in your market and make us your preferred capital partner going forward, then you are likely one of our “fewer, betters” with whom we will wish to establish a long term relationship.
Right Place Capital Partners’ focus is the “fewer, better” rehabbers in Louisiana.
We ask for the least amount of documentation possible. Once you’re ready to apply for a loan, we will generate a custom checklist for you that details the minimum amount of information you’ll need to provide to us. Our goal is to make the process as simple for you as possible. The first deal takes a bit longer, but if we have done deals with each other before and you have everything ready, you can be done in about 30 minutes.
While we do work with you using the Internet and the cloud, you can talk to someone any time that you have questions or need help. If fact, unlike other “hard money” lenders who don’t want to talk to their clients, we value building deep relationships with our “fewer, better” preferred ground partners where the full value of our consultative approach can benefit us all.
We’ve streamlined and automated our process to minimize your application and closing fees. There is an application fee of $200 due upon submission of your funding package.

At closing, you will be charged a service fee of $300 (against which your $200 application fee will be credited) and a closing fee. The service fee goes towards costs we incur to process and underwrite your loan (e.g., valuation, background check, flood certification, etc.). The closing fee varies by loan program. Our profit share program has no additional closing fees, but points are collected in our more traditional “points and interest” program. Fees are net-funded at closing.

That means, for example, if you have $1,000 in fees to close on a $200,000 loan, you will be given $199,000 at closing and we keep the difference as our fee.There is a $125 processing fee for draw requests in excess of four on any deal.

Additionally, wire fees are $30 per outgoing and incoming wire. There is a $75 payoff letter fee for each payoff letter that you request at the time of resale. That’s it.
Your online dashboard will keep you fully informed: When we know something, you will know too. Watch your loan as it goes through our process flow. See pending information requests, complete your borrower checklist, upload documents directly, speak with us, and more.
Yes, we do! We are able to offer funds for light to heavy rehab projects (“we don’t finance land or ground-up construction”). We have worked with our ground partners on “lipstick” turnarounds as well as abandoned New Orleans Katrina homes that required complete overhauls from piers to roof! In determining how much we are able to offer in rehab funds, we look at the as-is value of the property as well as the estimated after repair value.
Right Place Capital Partners keeps rehab funds as a holdback. These funds are held in escrow until after the work has been completed and proof of the work has been submitted. The funds are earmarked for the borrower but not released until the work has been confirmed, at which point a milestone draw is funded.
You can choose to obtain your draw in one of two ways. You can either take out small chunks as rehab milestone events are completed or wait until the entire rehab is complete, when you would make one drawdown for the full amount of the project. There is a $125 processing fee for each draw in excess of four on a deal.

The process for obtaining a draw is simple: make a request, provide us with videos, receipts, payment evidence/lien waivers and other proof of work. We’ll review your submission promptly, and the funds will be released within 3 to 5 business days from the time of review.