Rehab Loans
I'm currently looking at an analyst role at a firm that provides rehab loans to investors looking to buy distressed properties. Anyone have an idea of what kind of exit opps are for this type of role/firm?
I'm currently looking at an analyst role at a firm that provides rehab loans to investors looking to buy distressed properties. Anyone have an idea of what kind of exit opps are for this type of role/firm?
Career Resources
This is definitely a non-traditional job. Your exit options will be dependent upon a few things: 1) how well the firm is known (and what it is known for); 2) your professional title; 3) the tangible skills you actually develop; 4) the contacts you make.
There's just not any "traditional" exit options for a cyclical, atypical career path like rehab loans for distressed properties. If your firm is, say, MetLife Real Estate, you're a "real estate investment analyst", you develop strong Excel and other software skills and you meet a few senior people in the business who like you then the sky is the limit with regard to exit options.
I appreciate your response, the firm is fairly new and I suppose not very well known yet.
Anybody else have opinions on this topic of rehab/hard money loan firms? I'd love to hear.
I work in this industry. However I'm just a freshman in college. Got licensed as a realtor and I broker HMLs for investors and sell properties that were once "distressed." The money is really good for someone my age (the commissions) and I'm expanding my network greatly. I look forward to a career in RE. Probably commercial/industrial. What area are you in? In Orange County I know of the investment firm, Chase Merritt, that specialized in purchasing REOs and foreclosures that are rehabbed and flipped. Not sure if they're still doing that however.
Banks typically do not want to provide financing for non-owner occupied property acquisition and rehab scenarios needing high leverage. One common option is to turn to asset-based lending. However private capital is much more expensive for the borrower and the terms can be very stringent.
Well I guess you learn something everyday. I'll try to look into that. Yes that's correct. Why do you ask?
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