{"id":684,"date":"2013-04-05T12:30:47","date_gmt":"2013-04-05T19:30:47","guid":{"rendered":"http:\/\/privatemoneysource.com\/broker-blog\/?p=684"},"modified":"2013-04-05T12:30:47","modified_gmt":"2013-04-05T19:30:47","slug":"reminder-new-program-for-quick-flip-loans","status":"publish","type":"post","link":"https:\/\/privatemoneysource.com\/broker-blog\/?p=684","title":{"rendered":"Reminder: new program for quick flip loans"},"content":{"rendered":"<p><em>Clay Sparkman<\/em><br \/>\n<em>This is a re-post:<br \/>\n<\/em><br \/>\nAs 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.<br \/>\nUntil now, we have made many such loans, and we have done so as  follows: 5 points, 12-14% interest, a one year term, and with no  pre-payment penalties.<br \/>\nLately we have had borrowers asking if we could offer a 6 month term  with a lower up-front cost. The idea being that these folks could get in  and out in six months or less\u2014and thus save money on the cost of  capital.<br \/>\nWell, we finally have an answer to that. Starting today, we are offering the following program:<br \/>\nSix Month Quick Flip Loan<\/p>\n<ul>\n<li>Available for quick flip loans (with or without renovation expenses)<\/li>\n<li>6 month term<\/li>\n<li>3 points<\/li>\n<li>Option to extend for an additional 6 months is assured if borrower  is timely on first 5 payments (paid within the grace period), and not  past balloon date)<\/li>\n<li>The additional extension, if exercised, will cost 3 points.<\/li>\n<li>If borrower is not timely, there may be an extension offered, but  the decision as to whether or not to offer an extension is at the  lender&#8217;s discretion<\/li>\n<li>No prepayment penalty<\/li>\n<\/ul>\n<p>That\u2019s it. Sound good? We hope so. Go out there, offer this new  product, and get a piece of the action in the quick flip market that is  rapidly unfolding around you. We dub 2013 as the year of the quick flip.  I\u2019m guessing you do too.<br \/>\n\u2013 Clay (clay@privatemoneysource.com, 503-476-2909)<br \/>\n<em>Clay is Vice President of Fairfield Financial, a primary source                         for private money since 1964.\u00a0 Fairfield is   currently           targeting       loans    in    OR, WA, AK, CA, CO,   ID, FL, GA,   ID,   MT,       NV, NY, OK   and     TX.\u00a0 To    submit  a     loan to    Fairfield  for       consideration: <\/em><a href=\"http:\/\/www.privatemoneysource.com\/loanproposal.php\">http:\/\/www.privatemoneysource.com\/loanproposal.php<\/a><\/p>\n<table style=\"height: 4px;\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\" width=\"678\">\n<colgroup>\n<col width=\"71\"><\/col>\n<col width=\"87\"><\/col>\n<col span=\"8\" width=\"68\"><\/col>\n<col width=\"80\"><\/col>\n<col width=\"74\"><\/col>\n<\/colgroup>\n<tbody><\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Clay Sparkman This is a re-post: 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 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_s2mail":""},"categories":[15,16,19,21,24],"tags":[42,43,46,54,55,58,59,63,64,65],"_links":{"self":[{"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=\/wp\/v2\/posts\/684"}],"collection":[{"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=684"}],"version-history":[{"count":0,"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=\/wp\/v2\/posts\/684\/revisions"}],"wp:attachment":[{"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}