We’re in a shifting real estate market — not a down market, as the news headlines might suggest. In the current housing landscape, our consumer bridge loans give you a HUGE competitive advantage, more so than conventional loans.
For one, home inventory will likely remain tight, and so will the competition for properties. Bridge loans give you a cash-like offer that can effectively “put you ahead of the line” against home buyers strapped for cash.
Advantage two, and this may be the biggest, bridge loans allow you to buy a home BEFORE selling your current one. It’s not uncommon to see five to fifteen percent increases in home-sale prices when a property is cleaned up, staged, and free of its current residents and/or pets. That’s all doable if you move into your new home before selling your previous one.
The podcast is hosted by Chip Franklin and features our CEO, Mark Hanf. Joining us on episode two are San Francisco-based Ken Dara of Engel & Völkers, and Jeremiah Taylor of OJO Labs, in Austin. Here are some highlights from our conversation:
0:00 Demand For Alternative Real Estate Financing
1:15 Introducing Ken Dara
1:59 Shifting Market, Not Down Market
7:42 Two Major Advantages Of A Bridge Loan
10:26 Using A Private Money Lender
12:23 Bridge Loans Pay Themselves
14:35 How Long Does A Typical Person Use A Bridge Loan?
15:20 Tips For Home Buyers In A Tight-Inventory Market
17:41 The Advantages Of Bridge Loans For Realtors
21:03 Bridge Loans Are Not For Everybody
22:51 Highlighting Jerimiah Taylor Of OJO Labs
26:01 Getting Past Interest Rates Of A Bridge Loan
28:36 Bridge Loans Are Simplest Of Solutions
30:22 “Date The Rate, Not Marry It”
34:04 Bridge Loan Success Story
35:53 Presenting Bridge Loans To Agents