Kelly Smith - Hard Money Financing

Helping a repeat client take advantage of the discounted purchase prices in the current marketplace - we’re financing buyers purchasing at lower LTVs vs past years.

The result? Flipping for better profits in lower DOM markets OR more investors holding as rentals using the BRRRR strategy.

We’re a one stop shop - quick financing and draws using our flip loan to purchase + rehab the loan and refinance using our DSCR rental loan to hold.

Let’s chat about how I can help with your investment financing needs.

Kelly Smith - Hard Money Financing Texas hard money lender specializing in rehab (fix/flip), new construction financing, & transactiona

This month I’ve been with Easy Street Capital for 7 years (in hard money 10) and to say we’ve accomplished a lot in a small amount of time is an understatement.

Our first Christmas party we could fit at the same table and now we’re renting out ball rooms. This was our all hands meeting last month.

Excited to close $10M a month in parts of TX to $100M a month across the Nation.

Expanded our suite of lending programs to include different options of flip financing, we expanded our new build lending and added dscr rental loans.

Also opened our broker program for affiliates and white label.

Always adjusting, adapting and thinking ahead to our ever changing industry so we can be a trusted capital source for investors. I’ve been through four major market cycles in that time and Lenders that were around for years have shuttered or shrunk while we grew.

Here’s to 2025 - wishing us all a prosperous year!

Some investors are complaining their HMLs are taking weeks, if not a month to reimburse draws telling investors they are waiting on their Lines of Credit to be increased to loosen capital for funding draws. Some are waiting for payoffs or just took huge financial hits with foreclosures during the normalizing of the market.

While the investors saved money on the frontend costs of the loan, they are paying far more in holding costs and out of pocket capital self-funding the construction due to their Lender’s poor liquidity.

Easy Street Capital updated their draw process to online photos and videos taken by borrowers vs waiting on third party inspectors years ago to speed up the process for reimbursement draws. We understand the importance of borrowers getting their funds quickly to keep the project moving forward to keep capital requirements + holding costs down.

If we haven’t chat in a while about our flip, construction, rental or double close financing = let’s chat. Rates remain low for hard money, DSCR rates are still cash flowing and we still fund draws in as little as 48 hours because we’re well capitalized, lending across the Nation.

Interested in making more money = ask about our broker and referral programs!

Her first hockey game!

Holiday networking - Real Deal, Austin. Thoughts of last night? People are seeing more movement heading into 2025 in the REI space from investors to vendors.

Money Makin’ Mommas and Nick.

Texas Realtors: Median home prices stable, though most metros see increases

AUSTIN (Texas Realtors) – Median home sales prices were up in 17 Texas metro areas and down in nine during third quarter 2024, while the overall statewide median price of $340,000 was unchanged from the same quarter last year, according to Texas Realtors’ 3Q2024 Texas Quarterly Housing Report.

Even areas where the median sales prices dropped furthest saw modest declines: Austin-Round Rock-San Marcos area (-3.8 percent), Corpus Christi (-3 percent), and Brownsville-Harlingen (-2.6 percent). The median sales price rose the most in Eagle Pass (11.4 percent), Sherman-Denison (11.1 percent), and Texarkana (11.1 percent).

Active listings increased by 30.4 percent statewide over the same period last year and were up in every metro except Odessa (-2.1 percent). The most dramatic increase was in Texarkana (124.9 percent), followed by Brownsville-Harlingen (60.4 percent), San Angelo (58.8 percent), and Sherman-Denison (51 percent).

Statewide, closed sales were down 2.2 percent from third quarter last year. The nine metros that saw gains were up less than 2 percent, except Victoria (6.7 percent). Of the 17 metros that saw declines, sales went down the most in Texarkana (-25.7 percent).

Houses in Texas stayed on the market an average of seven days longer in 3Q2024 than during the same quarter last year. All but three metros had increases to time spent on the market. The largest decrease was in Eagle Pass, which was down 32 days.

Months of inventory, or how long it would take the existing homes on the market to sell at the current rate of sales, was 4.8 statewide, which is an increase from 3.6 months during the same period last year. Four to five months of inventory generally indicates a market balanced between supply and demand, according to analysts at the Texas Real Estate Research Center. Every metro area reported a rise in months of inventory.

https://www.bizjournals.com/dallas/news/2024/10/23/new-home-sales-prices-dallas-houston-homesusa.html?utm_source=st&utm_medium=en&utm_campaign=we&utm_content=DA&j=37228554&senddate=2024-10-26&empos=p7

Dallas cedes No. 1 new home market designation in Texas - Dallas Business Journal Houston has taken the title of Texas' most active new home market in 2024.

IMPACT meetup

IMPACT meetup - good to see everyone!