New programs you can take advantage of If a broker plans to venture into the residential investment field, it is important that they work to become proficient in the field. Like a good salesman, becoming an expert on the product can bring great value to investors. When it comes to fixing and flipping, investors will be looking for properties that are ideally located, have great physical attributes, and are relatively affordable in the local market. Building and developing relationships is also a key element in the real estate field, and while it can lead to repeat business for investors, it…
Author: Private Lending Agent
The Federal Trade Commission will pay $12 million in refunds to people who were deceived by a Utah company with ties to several HGTV stars.Zurixx LLC, which lured students into attending overpriced home-flip seminars, agreed to a settlement in February 2022 after being accused of making false revenue claims to lure aspiring real estate entrepreneurs.Further from the DeadlineSome participants paid tens of thousands of dollars to attend Zurixx seminars.According to the FTC, Zulix owners Christopher Cannon, James Carlson and Jeffrey Spangler partnered with home improvement television personalities, including Tarek El Moussa and Christina El Moussa, Hilary Farr, Peter Souleris and…
(NEXSTAR) The Federal Trade Commission is paying thousands of Americans $12 million after alleging that a Utah-based company with ties to several HGTV stars deceived people into paying expensive seminars with promises of success in “flipping” homes. A company called Zurixx LLC agreed to a settlement in February 2022 over allegations that it used false revenue claims to convince aspiring real estate entrepreneurs to pay, in some cases, tens of thousands of dollars to learn the Zurixx home flipping system. According to the FTC, Zulix owners Christopher Cannon, James Carlson and Jeffrey Spangler boosted sales from their coaching programs by…
Noah Furey (pictured above) of Insignia Capital told Mortgage Professional America that brokers in the fix-and-flip industry should make finding a lender with a proven track record a priority. “I think in any business, but especially the lending business, it's important to partner with someone who has experience,” he said. “So go to a lender that will work with you and teach you what it takes to be an effective broker and serve your clients.” Detailed up-front information is a key consideration for brokers and clients As a general rule of thumb, presenting as comprehensive a summary as possible of…
If you approach it with the right strategy, flipping houses can be a profitable business. Here are some tips to help you make your house flipping a successful and profitable endeavor. Invest wisely: Find quality properties at affordable prices First of all, look for affordable properties and invest wisely, but don't be fooled by low prices alone. Make sure the area meets your standards, that's where the real profitability lies. A property in a bad location is no bargain at all. Finding a reliable contractor: the key to success Finding a contractor you can trust is essential. Make sure you…
San Francisco-based private lender Kiavi said Monday it has completed a new multimillion-dollar securitization of residential transition loans (RTLs), bringing its six-month issuance volume to nearly $1 billion. The $350 million unrated securitization announced this week joins similar transactions since earlier this year. The company announced a $350 million bundle of RTL in February, followed by a $300 million deal in May. Kiavi has securitized more than $4.7 million in short-term RTL (also known as fix-and-flip loans or bridge loans) across 18 transactions since 2019. The company said its latest offering “attracted broad institutional interest” and sold out. Like its…
Home flipping, which has become increasingly popular in recent years, can be a very lucrative business. In fact, Motley Fool reported, citing research from Atom Data Solutions, that “8% of home sales in 2023 will be resales, up from 5.7% in 2016. The report also reports that the return on investment (ROI) in 2023 will be 27.5%, with an average gross profit of $66,000. Figuring out the exact ROI for a property that needs fixing up can be difficult because there are so many variables at play, according to Alex Blackwood, co-founder and CEO of alternative real estate investing app…
Stocklight / Shutterstock.comHome flipping, which has become increasingly popular in recent years, can be a very lucrative business.Check it out: 7 Types of Homes Expected to Soar in Value by the End of 2025Read more: Become a real estate investor with just $1,000 with this Bezos-backed startupIn fact, Motley Fool reported, citing research from Atom Data Solutions, that “8% of home sales in 2023 will be resales, up from 5.7% in 2016. The report also reports that the return on investment (ROI) in 2023 will be 27.5%, with an average gross profit of $66,000.Figuring out the exact ROI for a…
The average interest rate on a 30-year mortgage rose this week, its first increase since late May, raising the cost of borrowing for a mortgage. Rates rose to 6.95% from 6.86% last week, up from the 6.81% average a year ago, according to Freddie Mac. The increase follows four weeks of declines in the average rate, which has hovered around 7% for the most part of the year. Rising interest rates could significantly increase monthly costs for borrowers and further depress home sales, which have been sluggish since 2022.Borrowing costs for 15-year fixed-rate mortgages, a popular option for refinancing mortgages,…
Mortgage rates fell to their lowest since February following the lower-than-expected inflation report, a move that will provide some relief to homebuyers. Home loan rates fall: See what an EMI of Rs 3,000 can get you now According to a report from Redfin, a homebuyer with a $3,000 monthly budget can now purchase a $450,000 home with a mortgage rate of 6.8%, increasing their purchasing power by about $25,000 since April, when rates peaked at 7.5%. Nevertheless, the typical U.S. homebuyer's monthly mortgage payment is now $2,722, $115 lower than April's all-time high, even as home prices are just $100…