Pursuits
House-Flippers Turn to the Crowd for Quick Cash. What Could Go Wrong?
- Marketplace lenders for real estate provide speed, flexibility
- But speed and property loans may not mix -- remember 2008?
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Alex Sifakis never raised this much money this fast.
The house flipper from Jacksonville, Florida, crowdfunded nine deals totaling more than $9 million through RealtyShares over the last two and a half years. A July deal for $1 million took him just 12 hours.