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Fix and Flip Financing Made Simple: Smart Lending Strategies From a 30-Year Mortgage Veteran
Manage episode 477165340 series 3650927
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Jeffrey Putnam is a Senior Mortgage Loan Officer at The Magnolia Group, a division of the mortgage brokerage firm NEXA Mortgage. In his role, he specializes in investor and short-term lending. Before joining NEXA Mortgage, Jeffrey held positions at Finance of America Mortgage LLC and PNC Mortgage.
In this episode…Flipping homes and investing in real estate can be lucrative yet unpredictable. From financing to hidden repair costs and unreliable contractors, one wrong move can turn projected profits into painful losses. How can real estate investors avoid costly mistakes and fund their projects with confidence?
Short-term lending and real estate finance expert Jeffrey Putnam leverages smart investing techniques to minimize risks and maximize ROI on flips and construction projects. Hard money loans are ideal for real estate investors who need fast access to capital without the hurdles of traditional financing. Conversely, bridge financing allows investors to transition between properties seamlessly. With DSCR (Debt Service Coverage Ratio) lending, self-employed borrowers can qualify for loans based on rental income rather than tax returns. In addition to these strategies, Jeffrey recommends thoroughly vetting contractors, accurately estimating rehab costs, and planning for contingencies like unexpected repairs or delays.
Tune in to the next episode of Work Hard, Play Harder as Jake Hanes sits down with Jeffrey Putnam, Senior Mortgage Loan Officer at The Magnolia Group, a division of the mortgage brokerage firm NEXA Mortgage, to discuss smart financing strategies for real estate investors. Jeffrey discusses market trends, first-time buyer programs, and the lessons he learned from high-stakes flips.
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