Quote from @Chris Seveney: Over the past quarter, I have seen around $1B in defaulted fix and flip loans - many of these from new lenders since 2020 and more of a "tech platform".As we all know, the intersection of tech and real estate investing has brought incredible innovation, especially in hard money lending.

Is anyone flipping in a market where this is "average"? 

When my business partner and I were still flipping we bought a couple through Auction.com and we always used a private money lender to fund those and our other flips. 

One is a non-conforming duplex, the other is a flip with lot split-development opportunities.

Are you looking to do fix/flip or BRRRR?

I have done a couple of fix and flips.

We are direct lenders, meaning we lend our own money, for flips within approximately 1½ hours of our home.We walk through every property to avoid surprises and to confirm the rehab estimate.

These included cash buys for flips, seller financing, and subject-to deals.

RE has always been a big thing that always intrigued and in 2024 I went ahead and took the risk of buying a fix and flip investment with a partner and soon it will be on the market!

If we can complete projects faster, we increase IRR and build trust.3) Market Risk- The longer it takes to complete a project, the more exposed you are to market fluctuations.This goes for all things Real Estate - BRRRRs, Flips, New Builds, Rehabs, etc.Real Estate is a wild ride I feel your pain, I've had this happen many times where the project is twice as long.