Join us to learn insights, get expert tips, and discover proven strategies to navigate the market with confidence! Topics will include:
Market Opportunities
Financing your Portfolio
Rehab/Build Project Budgeting
Maximizing ARV
Debut webinar: Wednesday, Oct 25, 2023 at 1 P.M. EDT
Join RFG and two nationally distinguished guests, Rick Sharga and Brian Mingham. Bring your REI questions and get personalized answers from our real estate investing experts on topics including:
Market Conditions and Trends: Markets With the Most Foreclosures
Attom recently released its Q3 Vacant Property and Zombie Foreclosure Report. Compared to the same quarter in 2022, foreclosures are up 16.6%. The study shows that zombie properties have risen quarterly in 19 states and annually in 28. Where are the top 5 U.S. zip codes with the highest zombie foreclosure rates?
33931 – Fort Myers Beach, FL (85.7%)
92210 – Indian Wells, CA (76.9 %)
62656 – Lincoln, IL (50 %)
73554 – Mangum, OK (46.7 %)
46808 – Fort Wayne, IN (42.1 %)
RFG just closed a deal in Fort Myers last month that we’d love to tell you about! Get in touch!
The experts at jlconline.com published a helpful article explaining how to estimate your remodeling job using a unit-price estimating system. Are you familiar with “stick estimating”? They have a handy checklist for all the materials as well as labor projects you’ll need to complete the renovations. Estimating the labor times is the toughest aspect, but hopefully you know your crew and can estimate how efficiently the can complete the job.
Here are the details of how RFG saved thousands of dollars for an investor rehabbing a higher-end property in Florida.
An investor with good credit approached us requesting $695,000 (100% of purchase) and $222,000 (100% of the rehab budget) for a residential home in Florida.
We funded 95% of the purchase because the total loan request was at 78% ARV. That is why we required a 5% down payment while still funding 100% of the rehab. The interest rate was 12.625%.
In keeping with the 75% cap, the borrower brought the difference to close on the loan, so needed only $36K equivalent to 5% down payment plus funds for his closing costs; he also proved he had a three-month cash reserve on hand.
This buyer closed a $880,940 loan paying only $36,000 plus closing costs to seal the deal.
This example demonstrates the money-saving value of our 100% Premier loan AND the power of our commonsense underwriting to gauge each borrower and situation individually.
Because investors need less cash to close, our 100% loan product will save thousands of dollars for every loan with RFG when compared against any other lender.
