{"id":883,"date":"2014-08-27T11:55:56","date_gmt":"2014-08-27T18:55:56","guid":{"rendered":"http:\/\/privatemoneysource.com\/broker-blog\/?p=883"},"modified":"2014-08-27T11:55:56","modified_gmt":"2014-08-27T18:55:56","slug":"minding-the-gap-2","status":"publish","type":"post","link":"https:\/\/privatemoneysource.com\/broker-blog\/?p=883","title":{"rendered":"Minding the gap"},"content":{"rendered":"

Clay Sparkman<\/em>
\nThis article was originally posted at this site in May of 2013 at this site. Since then, we have seen the number of construction and fix\/flip loans that we do increase significantly. This seems to be a sweet spot for the private money market. That is, we are able to fill what would otherwise be a void in the market–and we are happy to do so. Given that, I thought it would be worth posting this piece again.<\/em>
\nIt is our opinion and the opinion of many others that banks, though they\u2019ve bounced back in certain areas, have not picked up the slack when it comes to funding rehab, construction, and development loans.
\nI have been on about this before, so I won\u2019t go into great detail here. I think that the following post makes the case pretty effectively.
\n2013: Think construction loans<\/a>
\nGetting down to brass tacks, we feel that this is a great opportunity for those in the private money business. In particular, we at Fairfield see enormous opportunity, in that (a) this need exists in such a desperate way, and (b) we have been funding and servicing such loans for many years\u2014so it is an easy pickup for our company and for the many brokers that we partner with.
\nIf you aren\u2019t already familiar with our programs in these areas, please consider educating yourself further and seeing if there is not an opportunity for you to offer our products to your current and future clients.
\nWith that in mind, I shall point you toward some prior posts that might help you get a handle on the particulars of our lending in these areas.
\nHere is our Rehab and construction loan FAQ<\/a>.
\nThis next article focuses more particularly on quick flips: 2013: The year of the quick flip<\/a>.
\nHere is a post regarding our Draw process for rehab and construction loans.<\/a>
\nAnd this post tells you how to go about Calculating LTVs for rehab, development, and construction loans<\/a>.
\nI\u2019ve always felt that people learn best by example. So with that in mind, here is an example<\/a> of an actual loan that we placed.
\nAnd here<\/a>
\nAnd here<\/a>
\nAnd here<\/a>
\nAnd here<\/a>
\nLet me know if you have any questions, or if you think that you’d like to pursue a particular loan proposal.
\n— Clay (clay@privatemoneysource.com, 503-476-2909)
\nClay 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>http:\/\/www.privatemoneysource.com\/loanproposal.php<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Clay Sparkman This article was originally posted at this site in May of 2013 at this site. Since then, we have seen the number of construction and fix\/flip loans that we do increase significantly. This seems to be a sweet spot for the private money market. That is, we are able to fill what would […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_s2mail":""},"categories":[2,4,5,14,15,17,19,21,24],"tags":[34,37,38,40,42,43,46,47,48,49,50,51,52,53,54,55,58,59,61,62,63,64,65,68],"_links":{"self":[{"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=\/wp\/v2\/posts\/883"}],"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=883"}],"version-history":[{"count":0,"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=\/wp\/v2\/posts\/883\/revisions"}],"wp:attachment":[{"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=883"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=883"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/privatemoneysource.com\/broker-blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=883"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}