CNBC is reporting that Wall Street giant Goldman Sachs is getting into the house flipping market with its recent acquisition of Genesis Capital – one of the largest private-money lenders in the U.S. focusing on “highly qualified and experienced real estate developers who buy, renovate, and sell single family residential real estate and/or multi-family apartment buildings.” Indeed…
“The deal, for undisclosed terms, gives Goldman a business that makes loans of $100,000 to $10 million at rates of 7 percent to 12 percent. It won’t lend to occupants, so that leaves real estate professionals who are renovating and looking to sell fairly quickly.”
Click here to read the full story on CNBC.com.
