Getting funds is often the toughest part of any project and when it comes to hard money loans, many investors are scared to even begin the process. We dive into the basics of bridge loans with Michael Bourque, the CEO of LendingHome, one of the country's biggest lenders to real estate investors. In this conversation we discuss how to start your first flip, the current lending climate, and how to use financing to build your rental property portfolio or flipping business.
0:00 Introduction
1:29 Current lending market
2:30 What is the Lending Home flipping product?
3:19 How do interest rates impact the rates for these loans
4:30 What is the qualification process like?
5:30 Machine learning and loan approval
7:30 Lending rules by state
9:30 Consolidation in the lending industry
10:55 Competition in the lending space
12:59 Starting your first flip
16:25 When a loan starts going wrong
18:25 Impact of the pandemic on Lending Home
23:03 The SFR boom
25:35 Competing against iBuyers for home flippers
26:59 The LendingHome rental business product
29:40 Financing large scale building
32:07 A passive product for accredited investors
34:00 What is next for LendingHome
37:40 The growth in build to rent
38:32 LendingHome in 5 years
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