Who are Amida's borrowers?

  • Loans are generally made to experienced real estate professionals who identify properties that have intrinsic value at the time of purchase
  • Generally, the borrower intends to renovate the property and add value before offering the property for resale
  • The borrowers’ frequently find opportunities to purchase properties through short sales, foreclosures, and sales of bank owned properties

Why not borrow from a bank instead?

  • The standard time frame that banks take to underwrite, fund, and close a deal is typically anywhere from 30 (thirty) to 60 (sixty) days
  • In most cases, the properties Amida’s borrowers seek to acquire need to be funded within a week or less due to the nature of the acquisition method being used to purchase the property
  • Amida’s speed, flexibility, valuation metrics, and reliability all help facilitate a timely loan transaction which help meet the Borrower’s needs

How does this process create value for both Amida and OUR borrowers?

  • Amida’s borrowers know their market and how to purchase assets cheaply and are using their own capital to make renovations and improve properties
  • The developers secure financing from Amida to buy properties, improve properties to “unlock value”, and sell finished asset to liquid and deep market of cheaply financed home buyers
  • Once the property renovation is completed, consumers are generally willing to pay a premium for a new or renovated home
  • Home buyers have access to inexpensive, conforming mortgage loan financing which increases the pool of potential home buyers and keeps move-in ready real estate prices high
  • While these non-owner occupied single and multi-family home renovations represent a significant portion of our loan portfolio, flips and other loans are structured as appropriate based on the current opportunity set