That storied New Jersey home we were telling you about was a beauty….but it didn’t start that way. Sure, we were suckers for what the good realtor described as “a lemonade porch” and dreamed of ourselves sitting in the “great room” enjoying warm times with family and friends. But it didn’t start that way -- it started as a small side-hall colonial, built over 50 years earlier…and showed its age!
We were close to New York City, so that our investor knew they could fix the house, and flip it for a tidy profit. And so they did – and we got our lemonade porch. And not just us. Suddenly, a wave of renovations started to roll across the land…or at least our neighborhood.
Some were by real estate investors. A couple were by subcontractors, who started to look on and ask “how do we fix and flip, too?” Some were by neighbors, who suddenly became real estate investors…and one or two even broadened into multifamily, bridge properties.
The original houses dotting our landscape were all old homes. They had been happy homes, once upon a time – but now were badly in need of a facelift or more. Houses age, and need to be redone, whether via fix and flip, rehab’s, or other forms of real estate investing. That’s why we created Diggifi – to help you finance your diggs (which is slang for “homes” if you didn’t know). Digg-ifi…get it? 😊
Oh, and financing doesn’t just mean getting you the loan or even handling the construction draws. Ok, managing construction drawdowns is important, but so is worrying about mechanics liens, lien waivers, and lien releases (both unconditional and conditional). All of this ties your mortgage, construction loan, or bridge loan to project plans, subcontractor management, to keeping your project on schedule.
Profitable real-estate investing, renovating urban neighborhoods, creating warm homes – three big goals, all in one little app!