How is the world of innovative technology revolutionizing the real estate industry?
Luckily for members and guests of the Financial Women’s Association (FWA), Melissa Shea of Clear The Way, Inc. and Matt Rodak of Fund That Flip were on hand to discuss that topic and much more. In fact, the twosome highlighted how new legislation, passed through the JOBS Act, has created synergistic new opportunities for investors and real estate developers to work together to improve communities through redevelopment.
Melissa, a well-established real estate developer based in Long Island, NY, has redeveloped more than 200 single family homes over the past few years alone. These are homes that are in need of serious repair before they can become livable. Through her efforts, she creates beautiful places to live that are affordable while also helping restore neighborhoods where property values are being negatively impacted by these otherwise blighted properties. One of Melissa’s biggest challenges has been gaining access to the capital she needs to acquire and rehab the properties she redevelops.
Enter “Fund That Flip.”
Fund That Flip is an online marketplace that matches qualified redevelopers, like Melissa, with accredited investors who would like to make passive real estate investments. Investors can browse dozens of pre-vetted investment opportunities online and invest in those properties that they want to help rehabilitate. The best part about each investment, aside from helping restore houses to their former glory, is that investors can participate with as little as $5,000 per deal. For their investment, investors earn between 10 and 12 percent in returns which are paid out monthly.
Fund That Flip performs due diligence on each borrower and deal before the deal is posted on their online platform. This ensures each investment meets a certain standard. All of the information collected during due diligence, including a third party appraisal, is posted online for each investor to review. Also, Fund That Flip invests in each deal which demonstrates their confidence in each project.
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Special thanks to WeWorks, Sinful Indulgence’s Kizzy Short, the Entrepreneurs Committee, and FWA Members Marian Knowles, Natallia Kolbun and Laura Kuehn for their contributions to a most successful evening.