Fairfield Financial Services, Inc. - Private Money Loans, Lending & Borrowing

Archive for February, 2013

Web based resources for the private money professional (re-post)

Friday, February 22nd, 2013

Clay Sparkman
I originally published this article in January of 2010. Two years later, I think it is as useful as ever. Thus the re-post (for those who missed it the first time around).

Today I will focus on a few web based tools that I have found to be useful in the business.
Let’s start locally [...]

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Rehab and construction loan FAQ

Thursday, February 14th, 2013

Clay Sparkman
One of the most promising areas at the moment for real estate investors and brokers, by all indications, is REO, short sale, rehab, and quick flip properties.  The opportunity to buy distressed properties at a low price point is evident in many markets.  And yet it is difficult for most end-buyers (with a non-profit [...]

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Quick flipping

Thursday, February 7th, 2013

Clay Sparkman
As you probably know, we work with a lot of people who are doing quick flip properties/projects. That means: buying low, generally fixing up (though not always), and then selling fast, at a fair price, for a nifty profit.
Until now, we have made many such loans, and we have done so as follows: 5 [...]

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Draw process for rehab and construction loans

Tuesday, February 5th, 2013

Clay Sparkman
We plan to do as many rehab and construction loans as we can this year. We see great potential in that area. Builders are under-building (by a substantial number), and this is mostly because banks haven’t recovered to the point where they aren’t comfortable doing construction style lending–and thus there aren’t many options for [...]

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