Realty Shares exits the residential hard-money-loan origination business


hackers stealing millions

Lima One announced that it has acquired the residential loan origination business of Realty Shares (which is sometimes called fix-and-flip). The terms of the acquisition were not publicly disclosed. Realty Shares intends to focus on commercial real estate instead, "sourcing and underwriting commercial deals". Some investors have previously claimed that certain residential loans were not performing (allegedly 84 South Union St for example). If that's correct, it's not clear at this point if Lima One will be taking over the administration of these problem loans, or if that will stay with Realty Shares. I've reached out to Realty Shares for clarification, and will update this post with more information when they respond.

#RealyShares #LimaOne #hardmoneyloans #residentialloans #Fixandflip

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About Ian Ippolito
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Ian Ippolito is an investor and serial entrepreneur. He has been interviewed by the Wall Street Journal, Business Week, Forbes, TIME, Fast Company, TechCrunch, CBS News, FOX News, USA Today, Bloomberg News, Realtor.com, CoStar News, Curbed and more.

 

Ian was impressed by the potential of real estate crowdfunding, but frustrated by the lack of quality site reviews and investment analysis. He created The Real Estate Crowdfunding Review to fill that gap.

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