{"id":877,"date":"2014-07-01T10:10:12","date_gmt":"2014-07-01T17:10:12","guid":{"rendered":"http:\/\/privatemoneysource.com\/broker-blog\/?p=877"},"modified":"2014-07-01T10:10:12","modified_gmt":"2014-07-01T17:10:12","slug":"quick-flip-loan-program-kicks-into-high-gear","status":"publish","type":"post","link":"https:\/\/privatemoneysource.com\/broker-blog\/?p=877","title":{"rendered":"Quick flip loan program kicks into high gear"},"content":{"rendered":"<p><em>Clay Sparkman<\/em><br \/>\nIt seems that quick flips are becoming quite common again, with the  regular small time investor. We are getting all kinds of requests.<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, 12-13% interest (on most loans), 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. We are presently 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 involved)<\/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 the 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>We hope you like this program, and we predict that your clients will  too. Let us know if we can take a look at a particular project for you.<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 It seems that quick flips are becoming quite common again, with the regular small time investor. We are getting all kinds of requests. 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 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_s2mail":""},"categories":[16,19,21,24,1],"tags":[31,42,43,46,54,55,58,59,61,63,64,65],"_links":{"self":[{"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=\/wp\/v2\/posts\/877"}],"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=877"}],"version-history":[{"count":0,"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=\/wp\/v2\/posts\/877\/revisions"}],"wp:attachment":[{"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=877"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=877"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=877"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}