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Fix and flip market struggles as financing costs rise

Housing Wire

In fact, ATTOM reports that one in 12 home sales in the nation last year, or 8.4%, involved fix and flip investors — whose strategy is to acquire, renovate (fix) and then resell (flip) the properties. More investors keep looking to flip homes … but are making less and less in the process “ ATTOM CEO Rob Barber said.

Finance 358
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Finance of America to go public before IPO window closes

Housing Wire

Finance of America on Monday will become the latest lender to make its debut on the New York Stock Exchange. To coincide with the IPO, institutional investors have pledged to make a private investment of $250 million in the company. According to Inside Mortgage Finance, FOA was the 26th largest mortgage originator by volume in 2020.

Finance 267
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Change Lending to join Federal Home Loan Bank of San Francisco

Housing Wire

Treasury Department , given to specialized organizations that provide financial services to low-income communities and others who lack financing options. Change Lending’s services include small-business loans and lines of credit, investor real estate loans, rehab loans and renovation loans, according to its website.

Lending 358
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Proprietary Capital completes acquisition of AFR, hires new COO

Housing Wire

A group of investors led by Colorado-based fund manager Proprietary Capital has completed the acquisition of multichannel lender American Financial Resources (AFR), the parties announced on Monday. The financials of the deal were not disclosed.

Lending 340
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Biden tax credit to rehab homes is finally unveiled

Housing Wire

Investors who acquire and renovate older homes could claim the credit on their federal tax returns, as long as the home is sold to and occupied by an eligible buyer. In order for investors to qualify for the credit, buyers must make no more than 140% of area median income. The renovations would be on a budget, however.

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How to vet private money lenders for real estate investing

Housing Wire

In today’s competitive real estate market, an increasing number of real estate investors are turning to private money lenders to help them close deals faster, enhance property valuations, and increase their returns. Property managers and real estate agents who are interested in working with investors.

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The share of owner-occupants buying foreclosures has doubled — here’s why

Housing Wire

Meanwhile, innovation-driven transparency is helping to make distressed property auctions more accessible for these owner-occupant buyers as well as for local community developer buyers who, it turns out, sell most of their renovated foreclosures to owner-occupants.