The first question is... how do you know this home is actually worth twice the price? Did you have an appraisal done, or even a comparable market analysis to see if it's in the ball park? Normally properties @ 50% of value either move quickly, or are in need of extensive rehab / have some other issues if they aren't moving.
Bridge loans are normally 'hard money' from investors, and at higher rates and typically points added on. Each will have they're own 'loan to value' ratio offering, usually somewhere from 65% - 80%. That can vary from investor to investor, and / or based on your credit and other assets. Again why you'd need to have a solid valuation.
You'd also need to establish another means of financing, as these are short term loans, normally 6 - 12 months. Some will only offer the bridge loans if you use them for the refi mortgage, and at their rates and terms. Either way you would have to be able to qualify for financing, or have future funds available, such as from a home on the market that has yet to sell / close.
So you'd need to know for sure if the property does offer the margins, and if trying to do this 'no money down', if the bridge would allow for the 20% - 30% down you'd typically need since you're from the UK. Also to allow covering any rehab, if necessary. Then have to factor in the interest rates, points, and closing costs involved in both the bridge and the refi.
You could use a hard money loan to acquire the property, but it may be less costly to get a conventional mortgage and then refinance or get a 2nd mortgage after you've acquired (and maybe improved) the property. I'm a Realtor, not a mortgage broker, but I can also put you in touch a lender I work with who is very experienced with foreign national loans.
FYI about our current market conditions:
There are some great deals available out there. And although it is a buyers market, there are buyers and investors that are picking up the best priced properties. In fact, many of the bank owned homes which are priced to sell are getting multiple offers and selling in a matter of days.
That being said, I wouldn't expect to "flip" a property for a quick profit. The investors today are looking to buy, rent, and hold.
Feel free to call or drop me an email and I will be happy to help you through the entire process. Before you make a purchase I'd like to provide you with a thorough pricing analysis as well as neighborhood specific rental statistics to properly analyze the deal.
BTW our company has a property management division that will find tenants, arrange maintenance, collect rent etc... for 5-8% of the gross rents.
If you would like to speak with is lender I would be happy to put you in touch with him. If you need information on the fair market value of the home feel free to ask. Send me an e-mail: BlytheMancini@cox.net
Keep in mind that getting the loan is only part of the deal.
Having good representation is the other big part. Work with a REALTOR;
You may get the financing but there are many parts that make up the purchasing of the property.
Are you located in Las Vegas already or are you still in the UK? Feel free to email me at RealtorLen@cox.net with your situation and I will see if I can help you. You may want to speak with a lender out here first about your bridge loan. I can connect you with a great lender to talk to you if you would like. I will wait for your email.
Prudential Americana Group