Stout Street Funding Begins New Program for Real Estate Investors
The recent wave of foreclosed properties around the country has created opportunities for real estate investors to acquire land, restore it and sell it to a new homeowner. But the biggest challenge in the process is getting enough funding for the investment.
Stout Street Funding, a private real estate lender, has started a program called 1-2-3 Funding designed to speed up the time it takes real estate investors to acquire a private money loan.
The program is meant to help real estate investors working with non-owner-occupied properties to acquire short-term loans for single-family, multifamily and mixed-use residences as well as townhouses or condominium projects.
“A key to success for real estate investors is speed,” said Cash Doye, president of Stout Street Funding. “With the market constantly shifting, they need to acquire the property, do the renovations, and get it sold quickly. That’s why the 1-2-3 Funding program was created—to help accelerate the funding process.”
By completing an online loan pre-approval form, which does not require a fee, borrowers can receive an initial response in one business day. Once pre-approved, the borrower receives a clear set of instructions about what information is needed to get a final approval. Upon providing the needed information, an answer about approving the loan is guaranteed within the next two business days. After all the final requirements are in place as outlined in the approval, the loan is guaranteed to fund within the next three business days.
“One of the biggest problems facing real estate investors is getting funding as quickly as possible,” Doye said. “It can make the difference between making the deal or having it fall apart at the last minute.”
The Denver-based lender is fully licensed and operates in 42 states. The company processes, underwrites, funds, services and manages every loan it originates.