When you are a lender in the residential fix and flip space, you get a lot of borrowers giving you details about the project they want you to fund. They tell you it is below market, an off market deal, a quick flip, only needs paint and carpet, a little TLC and it will sell for double.
This is a question we are asked every day! Why do I need to worry about the fund control process? My borrower can qualify and we have a bid to build the home so we can send the LO to inspect the property.
All of the services that CFSI offers work together to provide the best Construction Risk Mitigation service to our clients. Knowing that the contractor has the proper experience/licensing to complete a project leads to more confidence in the contractor’s budget/bid for a project.
"It is great to be self-employed. I enjoy having the ability to know I can do it. You challenge yourself every day to wake up and find another way to serve your clients and continue cross sell other new products and services.
Whether you’re fresh out of college or looking to get out of the corporate world after years of working for others, the idea of becoming an entrepreneur can have incredible appeal. Becoming an entrepreneur may even be somewhat of a necessity given all of the downsizing and layoffs that have occurred in the wake of the COVID-19 pandemic.
Construction loan management is a far more robust discipline than its name might suggest, encompassing everything from the assessment of a construction project’s feasibility and risk before its inception, to the complete management of the loan itself during the construction process.
The COVID-19 pandemic and resulting lock downs have fundamentally changed the way people view their homes, especially as it pertains to their ability to work from home and generally be in their home for extended periods of time.
Risk mitigation is most commonly associated with the construction of financial portfolios, but also plays a key role in business. In the latter context, it’s used to assess potential risks to project schedules, performance and cost, and to develop strategies to limit or counteract those risks.