This article was originally published in Think Realty Magazine in the American Association of Private Lenders’ (AAPL)-sponsored “Investor Review” insert in the July/August 2017 issue.
I got started in the fix-and-flip business as a teenager. I owned a small landscaping business and many of my clients were real estate investors. In addition to landscaping work, my team would often be hired to clean out houses and perform minor demolition. The first time I saw the transformation of an unlivable house filled with trash into the nicest house on the block, I was hooked.
Our team has now been part of more than 400 residential fix-and-flip projects across the country. As former operators, one of our biggest frustrations was the lack of options available to finance fix-and-flip real estate.
Banks are too slow and often don’t understand the nuances of real estate investing. Raising private money is time consuming and often unreliable. Hard money can be a good option for speed, reliability and expertise, however, we found the process to be very opaque and antiquated.
After looking high-and-low for the ideal lending partner, and coming up empty, we set out on a mission to create one. A lender that is a reliable, transparent and affordable. A lender that enables qualified real estate investors to grow their businesses by focusing on what they do best: Revitalizing neighborhoods and communities by investing in real estate.
To create the ideal lender, we knew we’d need to piece together all the resources available to deliver the best experience for our clients.
Technology Enabled: The internet has made everything easier. From keeping in-touch with old friends to ordering new work boots, you can do it all from the palm of your hand. We thought, why not secure funding the same way? Our whole process can be done online and you receive instant feedback on whether or not we can fund your project. No more filling out long-form applications and sending them into a black hole.
People First: As much as we like to leverage technology, real estate is a personal business. Every one of our clients has a dedicated team of real estate experts to support you through structuring terms, closing and issuing construction draws. You’re always just a call, email or text from someone who can help.
Creative Capital: Our funding platform includes hedge funds, family offices and hundreds of high-net-worth individuals. This diverse capital base helps us provide very consistent capital. It also creates a more efficient market, ensuring we’re able to offer our borrowers the absolute best rates. In the last twelve months, experienced clients have experienced an average sixteen percent reduction in rate.
Our mission is simple: “Enable real estate investors to improve communities by investing in real estate. We do this by being an affordable and reliable source of capital that puts people first.”
I hope you’ll give us a chance to help you grow your business.
Matt Rodak
CEO
Fund That Flip, Inc.
www.fundthatflip.com/thinkrealty
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