“Bridge loans, also known as hard-money or asset-based loans, give flippers cash for home purchases and construction with about a year to repay, and are backed by the real estate. Blackstone, the world’s biggest alternative-asset manager, is seeking to make $1 billion of the loans a year, according to Nick Gould, executive chairman of the firm’s B2R Finance unit. Home flippers are benefiting from rising prices, limited new construction and a shortage of inventory on the market. While quick resales have decreased from the start of the housing market’s rebound, when investors snapped up discounted distressed homes, profits are getting bigger.”
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
Cash-strapped Cyprus plots Russian exit from austerity
Russia arrests 10 people for commemorating ‘Prague Spring’
Japan's nuclear crisis deepens, China expresses 'shock'
Drug cops took a college kid’s savings; 13 police departments want a cut
Brazil hackers accidentally attack NASA as payback for NSA surveillance
Denmark to scrap world’s first fat tax
Global Immigrants Send $500 Billion Back Home
U.S.-Approved Arms for Libya Rebels Fell Into Jihadis’ Hands
'Japan's Authorities Decline to Step In on Bitcoin' (Tuesday)
FBI continues to investigate Hastings for 'controversial reporting'
New £150million F-35 combat jet is banned from flying in bad weather because it could explode
Hedge Funds Gear Up for Another Big Short: High-Yield Bonds
Facebook launches global Internet access initiative
Tax havens explained: How the rich hide money
FDA Tells Google-Backed 23andMe to Halt DNA Test Service