Fix and Flip Loans with Michael Bourque of LendingHome


Manage episode 299559717 series 2791868
By Deidre Woollard and A Motley Fool Service. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

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

70 episodes