So I reached out to someone who plans on doing fix and flips in the future. I sent him our funding rates for EMD and Stack/Morby. Then he sent me the text follow up text that I feared I would get… he asked specific questions that I didn’t have the answers to. Here’s what he sent me:
“What is the time period you are looking for?
Is what you gave me just for the earnest money?
What I’m mainly looking for is fix&flips: how much of purchase&rehab do you lend, what rate, what are the fees?”
I don’t know how to reply to him with an educated answer… Other than he would need to speak to “my partners“ or I need to check with “my partners “.
He doesn’t have a specific property yet he is just trying to be prepared for when he does have one… So that he knows where to go for funding. He has worked alongside his father-in-law on over 30 fix and flips and is now venturing out on his own.
Please help! 🙏