When a Cheyenne deal is hot, speed decides who wins the contract. Ambition Lending funds investor-purpose hard money loans in Cheyenne fast and predictably, so you can lock up a flip, bridge a purchase, or refinance a rental without waiting on bank committees. Below is the exact playbook local investors use to close in 10–14 days, what documents to gather, and the pitfalls to avoid.
The 10–14 Day Closing Playbook
- Day 0–1: Quick intake and term sheet. Provide the purchase contract (or payoff for refi), rehab scope and budget if applicable, entity documents, IDs for signers, and two recent bank statements.
- Day 1–3: Title opened, valuation (appraisal or BPO) ordered, insurance started. Give the appraiser immediate access and line up your insurance agent for the binder.
- Day 4–7: Conditions cleared—finalize contractor bid and scope, submit the COI naming the lender as mortgagee, answer any entity or title questions.
- Day 8–10: Final approval and closing package drafted.
- Day 11–14: Sign and fund, assuming clear title and valuation.
Cheyenne Fix & Flip Numbers That Work
A simple example investors can copy:
- After-Repair Value (ARV): $365,000
- Rehab budget: $45,000
- 70% rule: 0.70 × 365k – 45k = $210,500 maximum purchase to stay within a safe margin
- Soft costs (interest, taxes, insurance, utilities, staging, closing): plan $18k–$22k
- Expected resale proceeds after agent fees and seller costs: ~$340,000
- Projected profit before income taxes: ~$60k+, assuming timeline discipline
How Rehab Draws Work in Laramie County
Draws release quickly when documentation is tight. Use a milestone scope (demo → rough-in → drywall → finishes → punch-list). Submit labeled room photos and short video, request inspections 24–48 hours in advance, and keep utilities on for mechanical checks. Most cosmetic projects aim for 3–4 draws total.
Three Speed Killers to Avoid
- Late property access for valuation. Get keys or lockbox access on day one.
- Scope creep after approval. Lock materials and finishes before closing.
- Title surprises (old liens, missing releases). Open title early so curatives don’t stall funding.
What to Send for a Fast Yes
Purchase contract or payoff, rehab scope and budget (if any), entity documents and IDs, proof of funds for down/closing, insurance agent contact, address and access instructions for valuation.
Q&A
Can first-time flippers get approved? Yes—if the deal pencils and the contractor bench is solid.
Do you finance 100% of rehab? On qualifying deals with verified scope and draws.
Owner-occupied allowed? No—business-purpose investments only.
