Even Goldman Sachs is Getting into the Game of Flipping
Another good sign that home flippers are going to be around for a while is the recently announced purchase of Genesis Capital by the slick and savvy Goldman Sachs. Genesis got its start at the right time, back in 2007. Genesis Capital, a specialty commercial lending platform for professional residential real estate developers, reflects the growing demand for financing for home flippers. At the time of the announcement, Genesis reported a footprint in the 20 largest cities across the country.

According to some sources, over the last four years, Genesis-involved loan originations surpassed $2.5 billion, and $1 billion in 2016 alone.

According to Goldman Sachs, it will assist Genesis in its next phase of growth, with a focus on achieving additional scale within its currently served markets while spearheading the introduction of new products and finance solutions to a wider and national customer base. Lending to the house-flipper is another way Goldman is looking to profit from the sustained trend in real estate investment.

ABOUT COUNSELLORS TITLE AGENCY
Since 1996, Counsellors Title Agency had provided swift, proven and knowledgeable title insurance settlement and search expertise for thousands of New Jersey’s attorneys, loan officers, Realtors, borrowers and purchasers. CTA’s detail-oriented team of professionals streamlines the complexities of a real estate transaction to make each one stress and glitch-free.

If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.