Whether it’s short-term financing that covers the cost of purchasing a property, or a small loan for renovation expenses, investors need to work with lenders who can provide advice on market trends, property values, and renovation costs. But it’s rare to find lenders that offer loans to fix-and-flip investors and become a trusted partner in their journey.
Kiavi CRO, Stephanie Casper, teaches us about what investors get wrong when making it big in the industry from the perspective of a lender. This is one episode you shouldn’t miss, especially if you’re new in the industry.
Key Points From This Episode:
Tweetables:
“Regardless of the interest rate environment, there is always going to be a need for housing, and flippers are often best suited to delivering those homes.”
“It's not just the business plan and math problem [for the flipper]; it's a bit of an emotional buy because you want to prove you can do it and help your ego along. That's where a lot of new investors get caught.”
“What is the return on your capital that you need? What is the cost? What’s the math? That's really how you avoid the emotional buy for sure.”
“Using bridge loans to buy stabilized and then refinancing that whole BRRR Strategy for investors is another way that we are augmenting that fix-and-flip demand.”
“Higher interest rates are still going to be around for a few years, but they're not going to be around forever.”
Link Mentioned in Today’s Episode:
About Stephanie Casper
Stephanie Caspe
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