Overall:
Platform Provided Due Diligence:
Platform Fees:
Quality of Deals:
URL - Fund That Flip
Fees - 2% to 4% loan points as an origination fee deducted from loan funds at loan closing, plus 1% to 3% interest rate spread taken from loan repayments over the course of the loan. There is no cost for investors to sign up and review deals.
Phone - (646) 895-6090
SEC REG - USES 506(c) Open Investments can be advertised and publicly discussed
Fund That Flip specializes in funding the rehabilitation of homes by re-developers. All funding is by debt, not equity investment. Investors are secured with a first-position lien on the underlying real estate.
Loans are given only to qualified re-developers with a minimum of six successfully completed previous projects. The minimum equity investment required of the re-developers seeking the loan funds is 20% of the real estate property's acquisition cost. In some cases, this requirement may be higher. Up to 100% of the construction costs are financed, with holdbacks that are released upon successful achievement of construction milestones, subject to physical inspection. Loan-to-value must be less than 65% of the value of the property after repairs are made.
Investors invest in a Borrower Dependent Note (BPN). This is a security issued by Fund That Flip, which represents a debt investment in the fund. The proceeds less the transaction fees of 2-4% are used to invest in a first-position mortgage note on the property. Investors invest in a specific loan on a specific piece of real estate for a specific borrower. The performance of the investment is directly correlated with the performance of the underlying borrower note (mortgage). Annual returns for investors are in the range of 8% to 14%. There is no indication of how much they have raised so far. The minimum investment is US$5,000.
Mar 22, 2018
Overall pleased, rates are falling but fewer problems than some of the other debt platforms
Feb 18, 2017
This is my favorite platform. The formats are good. Information is good. Rates are good. I have a few loans with them but recently their quality has gone downhill and the frequency has dropped as well
Feb 15, 2017
They are very good at providing updates on each investment. I have had 6 investments with them, 2 have been repaid. This is one of my favorite platforms.
Feb 03, 2017
I concur w/other comments. They comm well, provide plenty of DD and seem to be proactive in dealing with any loan issues and letting investors know what's going on.
URL - Fund That Flip
Fees - 2% to 4% loan points as an origination fee deducted from loan funds at loan closing, plus 1% to 3% interest rate spread taken from loan repayments over the course of the loan. There is no cost for investors to sign up and review deals.
Phone - (646) 895-6090
SEC REG - USES 506(c) Open Investments can be advertised and publicly discussed
Fund That Flip specializes in funding the rehabilitation of homes by re-developers. All funding is by debt, not equity investment. Investors are secured with a first-position lien on the underlying real estate.
Loans are given only to qualified re-developers with a minimum of six successfully completed previous projects. The minimum equity investment required of the re-developers seeking the loan funds is 20% of the real estate property's acquisition cost. In some cases, this requirement may be higher. Up to 100% of the construction costs are financed, with holdbacks that are released upon successful achievement of construction milestones, subject to physical inspection. Loan-to-value must be less than 65% of the value of the property after repairs are made.
Investors invest in a Borrower Dependent Note (BPN). This is a security issued by Fund That Flip, which represents a debt investment in the fund. The proceeds less the transaction fees of 2-4% are used to invest in a first-position mortgage note on the property. Investors invest in a specific loan on a specific piece of real estate for a specific borrower. The performance of the investment is directly correlated with the performance of the underlying borrower note (mortgage). Annual returns for investors are in the range of 8% to 14%. There is no indication of how much they have raised so far. The minimum investment is US$5,000.
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