Frequently Asked Questions
Technology
Does the technology cost money to use?
No, it is free. We believe that technology + people = alpha, so we make our technology available for free. Sign up here for early access.
Do the underwriting algorithms work for fix & flip and rental strategies?
Yes! Our technology uses robust data inputs and intelligent algorithms to assess the financial viability for all investment strategies. Our technology uses precise data and algorithms to take the hassle out of forecasting property valuations, rehab cost estimates, recurring cash flow, ultimate profit potential and more.
Do you provide leads of properties available for sale?
We believe in the mantra “give a man a fish and you feed him for a day; teach a man to fish and you feed him for a lifetime.” Our technology is designed to do our best to teach you how to efficiently and effectively hunt for leads. Using our technology you can manage the entire investment process again and again.
Can I use the draw request tool with other lenders?
Our draw request tool is only available when you secure financing through Backflip.
Can I submit ideas for new technology features & functionality?
Yes, we would love to hear from you. Please contact us with any ideas, suggestions, comments, or questions.
Capital
How long does it take to get approval and funding?
We try our best to get you funded as quickly as possible. Approval processing can be as fast as within 24-48 hours of submitting your application, and funding typically takes less than two weeks. Funding may be quicker if needed, please contact us with specific requests.
What types of loans can I get?
You can get almost any type of loan for residential investment strategies (1-4 units), including short-term bridge loans, fix and flip or rehab funding, long-term rental financing, and cash-out refinancing.
What are the typical interest rates?
Interest rates are based on a variety of factors including the property characteristics, the amount of financing desired, and your credit score. As your technology partner, we aim to help de-risk your investment by digitizing and automating your processes and enabling data-driven decisions so you can benefit from the lowest rates available. Win win.
What states can I borrow in?
We currently lend in Texas and Colorado and are expanding to new markets in 2021. Please let us know if you are in another location and we will try to help as best we can.
Do you work with out-of-state borrowers?
We focus on supporting local entrepreneurs and out-of-state investors with a like-minded dedication to helping you be your best. If you are out of state and would like to discuss a loan please contact us. We will be happy to try our best to help.
