Investors Push Into a Resurging Market: House Flipping
He has borrowed often from Broadmark and tries to laugh off the rates he gets — usually around 12 percent interest
with 4 percentage points of fees for a one-year loan: “That’s outrageous, but what are you going to do?”
It’s the company’s timeliness that matters to him when he needs to move quickly in the hot Seattle real estate market.
But the loans — sometimes referred to as fix-and-flip or hard-money loans — come with risks, including developers unable to pay them back
and a drop in real estate prices that could make properties hard to sell or even rent.
