GROUNDFLOOR’s Founder/CEO, Brian Dally, was recently cited in a Bloomberg article on recent dynamics of the home-flipping market.
Bloomberg highlights GROUNDFLOOR as a lending company that has achieved critical mass within the home-flipping lending market and has a unique capital markets model for funding the loans it originates:
Crowdfunding companies like Atlanta’s Groundfloor Finance Inc. have poured in, too. That company gathers up capital from thousands of small investors and is loaning about $12 million a month, primarily to real estate investors, said co-founder Brian Dally.
While there has been a slowdown in home-flipping volume in recent quarters, Bloomberg notes that Brian Dally remains optimistic about the future of the market:
For now, hard money lenders say they’re not worried real estate investing will collapse. Groundfloor’s Dally said flippers can’t count on finding a move-in ready house anymore and flipping it quickly. Those houses have already been sold off, and what’s left are older houses that need extensive renovations. Still, there are enough such houses out there to sustain Groundfloor’s business, he said.
Read the full article on Bloomberg’s website