AlphaFlow, a money-management startup that purchases real estate loans from lenders, has sold $95 million in bonds based on fix-and-flip loans. So reports Bloomberg.
The securities sale is the first in what the company believes will be a succession of such deals as it continues to purchase rehab residential loans.
Ray Sturm, co-founder and chief executive officer of AlphaFlow, said that as the pandemic drives many American city dwellers into the suburbs, a good portion of them will buy houses renovated and flipped by property investors.
Read the full article from Bloomberg.
Source: themortgageleader.com