Fund That Flip, a platform for real estate investors, announced that it will rebrand next month as Upright.
The decision follows the company’s 2022 acquisition of FlipperForce, the web-based software platform for redevelopers and builders. FlipperForce will be fully integrated within the Upright platform.
“Our old name served us very well for a long time, but we are building the most comprehensive platform for active and passive real estate investors alike,” said Upright CEO Matt Rodak, who founded the company in 2014. “So, while the starting point for that was helping developers secure funding for their projects, today we offer our clients so many more tools to remove the friction felt at every stage of the process from finding investment properties, financing, construction and management, and through to disposition. And we are just getting started.”
Photo of Matt Rodak courtesy of Fund That Flip
;
He’s flipping companies are the worst thing. Literally inflating housing prices.
Investors that flip houses are not the reason housing prices are inflating. The main reason for this is tied directly to our government’s actions. The devaluation of the dollar due to a string of stupid decisions like forcing banks to lend to under qualified borrowers, the lockdowns, 0% interest so large wall street money can snap up residential real estate, the ever-growing regulations put on developers and builders, etc. The list goes on and on.
Many of the properties that are termed flip properties would not qualify for traditional mortgage financing due to their condition. So, they would just sit there until someone puts them into a condition that they do qualify for financing. That is a costly and risky business venture and warrants earning a profit.
Maybe if our government didn’t force banks into lending to borrows that couldn’t afford the property in the first place, we wouldn’t have as many foreclosures and destressed properties. I started seeing this in the early 2000s when the government started forcing banks to lend outside of traditional underwriting standards. The beginning of the woke mentality that the banks were racist and bigots since they were declining loans in poor neighborhoods where the borrowers had no chance of ever paying the money back. Another burden put on we the taxpayers, since we then were forced to bail these banks out when they collapsed. So, in a free market, smart people see a problem (usually caused by the government) and produce a solution….buy and repair the distressed real estate the underqualified borrowers walked away from. Here is a Forbes article talking about this:
https://www.forbes.com/2008/07/18/fannie-freddie-regulation-oped-cx_yb_0718brook.html?sh=58c9a261364b
Too many times we are looking at the end results and trying to put a band-aid on it, like demonizing flip investors when the cause should be where we focus.