Because of COVID-19, those in the real estate industry had to pivot in a huge way to survive and find ways to thrive with the ongoing deurbanization. Keith Baker explores how people in this sector hone their strategies, particularly in private lending, by sitting with Kayla Wojcik. She explains their work at FlipCo Financial, a team of forward-thinking individuals in the real estate investing sector focused on bringing a better financing product to the Houston market and soon nationally. She dives deep into the type of loans they offer, why they don’t charge appraisal fees, what a typical bridge loan looks like, and their most common borrowers. Kayla also shares their strategy when it comes to bread and butter houses, which experienced a huge decrease in February.
Pillar No. 1: My Money My Terms
Pillar No. 2: Never Trust, Always Verify
Pillar No. 3: ROIs
Pillar No. 4: WIN-WIN-WIN ONLY: Always Full Disclosure
Pillar No. 5: Never lend to friends or family members in need. Rather give them what you are able to give without the expectation of being paid back
Pillar No. 6: Honor the contract, but DO NOT hesitate to begin foreclosure. It can be easily stopped in case the borrower makes good
They say that hard money lenders are the solution to any real estate investor’s funding impasse. On top of that, there’s been an evident confusion on the difference between hard and private money. What are the distinctions despite seen similarities? Which one should you prefer if you wanted to scale up your business? Learn…