_____________________
Fix-to-sell properties are sitting longer in metro areas, but DSCR exits are holding up well and Mississippi continues to be one of the stronger cashflow markets we're seeing.
We've been selective lately, passing on deals where purchase prices don't justify the rehab costs (lopsided loans). We're also continuing to build relationships with experienced flippers and developers who are actively growing their portfolios.
Where we stand: After some recent payoffs, we have 8 active loans, all with after-repair loan-to-values below 65%. Our average loan size is around $75k, and as we grow, we're looking to work on larger projects in the $150k–$300k range. If that's in your wheelhouse, I'd love to hear what you're working on.
We have capacity for the right deals right now.
For those already familiar with how we work: Okra Capital operates on a deal-by-deal basis, secured by Mississippi real estate at conservative loan-to-values. If you'd like to revisit a conversation, don't hesitate to reply.
As always, if you're flipping, buying, or deploying capital in Mississippi, let's talk.
— Tyler
Okra Capital
(662) 205-0785
_____________________
Have a project that you’re needing funding for?
_____________________
Did Someone Forward This to You?
Wow, you've got some cool friends. Subscribe here if you want to get these kinds of insights every month.
0 comments