Build to Flip Program
The Norris Group’s building and construction hard money program is built for California real estate investors and builders working on new construction projects ranging from infill projects to small tracts in California with the intent to flip once completed. If you’re working on add-ons and square footage additions, please see our standard fix and flip hard money loan.
We fund up to 65% of future value depending on the project which typically covers the cost of construction. Land must be owned free and clear and construction plans and permits drawn before funding. For projects over 8 properties, please call 951-780-5856. Please be aware since the passing of SB978, a third party fund control is currently required on all new construction.
* 0.4% additional interest if investor does not opt in for direct deposit.
** Points and LTV/ARV are subject to the required third-party appraisal which takes into consideration property condition, property location, and the investor experience.
All loans subject to change. All loans subject to change.
Term: 1 year
Rate: 10.9% interest only
Prepayment penalty: None Up to 65% future value
Points: 2 pts
Appraisal Fee: $375-$400
Funds control required, roughly 1% of construction costs.
Entities, trusts & IRAs OK