How to Find & Fund Your Deal in Minutes

Okay, welcome everyone to today's webinar. My name is Liz. I'm joined here by— and I'm hopefully saying your name correctly—

it's Mariah.

Yeah, Mariah. Yeah, so excited to have Mariah from Backflip on today. We're gonna talk about finding deals and funding them and all that good stuff. So thanks for being here on today's webinar. If you can, in the chat box, please say hello. Uh, please share where you're, where you're kind of Zooming in from— I should say not calling in because that is old school, but Zooming in from. Uh, that would be wonderful. Uh, start to get engaged with all of you. We want to make this time well spent. We're going to give everyone another minute to join and we're going to get going. It's a couple minutes after the hour, so I want to be mindful of everyone's time. And Mariah, I don't know if you want to say a quick hello before we—

yeah, yeah, of course. Excited to be here, um, and hopefully see some I do see some familiar names from InvestorCon, so that's exciting and great to see where you all are from. I'm joining from Montana, Bozeman, Montana. So if there's any Montana folks out there, hey, hey.

Yeah, we just started a— pretty sure we just started a Montana investor meetup.

Yes, Tori, she is awesome.

Tori is great. She's a good friend. All right, we're going to get going. So welcome, everyone. For those who are new, to our community, to our, uh, our platform, please just pop in new, uh, because I really want to give you a special welcome if this is your first webinar, first really way to engage with, with the InvestHer community. Awesome. Hi, I'm Mayo. Linda, hi. Jill, awesome. Elizabeth, great name, I'm biased. Um, okay, so I'm gonna get going here and then I'm gonna throw it to Mariah to jump into, to our content today. So we do these free events. My name is Liz, by the way. I'm the co-founder of the InvestHer community. We do these free events, uh, usually twice a month to really give you some great content. And I'm really excited about having Mariah here. She's one of our valued sponsors. They came out to InvestorCon in, in May, and they're just doing a lot of good work in this space of, of this, you know, with with regards to their app and how they're helping all investors, right? Um, you know, in various ways. So she's going to get into that today, talking about finding and funding your deals. But Mariah, thanks so much for being on. Thanks for all the support, uh, for our community.

Of course, thanks for having me.

Yeah, so a couple of things about us for those who are new. I want to just share a little bit about our mission and what we stand for, because this is important to kind of reconnect, uh, anything we do, anything we're involved in I just want to share our mission. Our mission is to empower women in real estate to live a financially free and balanced life on their own terms. And what we do is we provide an intimate global platform so women can create those deep relationships and, and get the support they need to move the needle, as we always say, on your journey of financial freedom. And so we are building that intimate global platform with all of you. A little bit about how you can get connected to A lot of what we're doing is we have a weekly podcast for those who don't know, The Real Estate Investor Show. It is twice a week, released twice a week, published by BiggerPockets. And, you know, we are constantly interviewing. We are almost up to 400 episodes. So, we're constantly interviewing women, you know, in the space of investing, business, and self-care are our three pillars. So, stay tuned on that. We do have investor meetups across the country. We've a few in Canada. Our goal is to have meetups everywhere where women can have local communities to give and get support. You can see all those locations on our website. And we've really cultivated over the last number of years a, a mentorship program for women who have done 5 to 10 deals. So if you're looking for a mentorship program, we've really worked very hard at putting a really deep one together to support women who are solopreneurs, who are done doing things themselves, and who really want to surround themselves by like-minded women. And we were— don't— we just made a big shift in that where we were opening the doors twice a year, and now we've actually have the ability to open the doors for that all the time. We have our pods coming up in August, so if it's something you're interested in, I would highly recommend to go to our website and apply. We don't accept everyone. It's, it's kind of an application process so we can get the right fit in, in the mentorship program, but Definitely check that out if you've, if you've done deals and you're looking to scale and grow. And for those who don't know, we have a free Facebook community. It is something that we started with many moons ago and with 40 people, and now we're up to almost 15,000 women. And we really take that seriously where you're giving and getting support. It's that ongoing way to stay connected to, to us. And we have ongoing events. We also have an eXp team where they're women agents, women real estate agents looking to build their wealth as well. And we're obviously constantly looking for investment opportunities. Andresa Guidelli and I are both active investors along with you. So we're in the game with you as well. So without further ado here, Mariah, you're going to jump in here and share what you have to share with us today. Excited to have you. And I'll just, from a housekeeping perspective, I would recommend everyone to put your questions in the chat— I'm not— the chat box, I'm sorry, the Q&A box. The chat box gets very busy, especially because we have a really super engaged— we almost have 100 people on today's webinar and very engaged group of people here. And that's what I love about our community. So please chat all you want, but please put your questions in the Q&A box for Mariah. And then Mariah, I'll come back on about 15 minutes of. And if you're earlier, I'll be right here monitoring and supporting. But thanks for being here. Thanks for everyone being here. And let's get into today's topic.

Well, awesome. Thank you so much, Liz. It is such a pleasure to be here. I'm going to go ahead and start sharing screen. And like I said, it has— it was such an incredible experience for us to be able to see some of y'all in person at InvestorCon, and I just can't say enough about the investor community and how closely it aligns with what I believe in and then what we're doing at Backflip. So excited to talk about finding and funding your deals today. Again, put questions in the chat and no questions are off limits, so please ask away. As an introduction, yeah, my name is Mariah Schmidt. I am Director of Community here at Backflip. I'm a newer investor, but I'm proud to say, you know, I've been coached, you know, per investor to say I have 2 doors, got my first in '21 and then my second one in 2022. So eagerly looking for that next one as well. So I'm in the throes of it with you as well. And really, as my role at Backflip, we're helping to build the investor community as well. So we really closely align with what investor is working on. Prior, I worked at, um, this is about my 5th startup, so worked in startups, um, and actually was on, um, venture capital teams, so helping to fund startups and build their communities there as well. Um, quickly, just wanted to note what is Backflip. So really think about Backflip in 3 different ways. The first is it's a free analyzer tool, so it's an app. You can go ahead, log in and analyze any properties. I love it because it's really breaking down barriers and access to data. We actually partner and pay for data that comes through MLS and through public record data. So it's a really beautiful, robust data set and it gives you a good idea of whether or not a deal is going to be a good fit. And then secondarily, we have lending. So when you're ready to go ahead and apply and fund your deal, that's That's a great place to get it. And then last but not least, I would be remiss if I didn't say something about our community. We've got about almost 8,000 members across the US and we're a great way to connect with other investors, contractors, vendors, wholesalers, all of that. So that's just a quick overview of Backflip. But let's get into some of the data that you're more excited about, which is talking about sourcing. So As I noted, I'm also looking. I think a lot of us are looking and sourcing. But one thing I like to talk about, and I think it's an ongoing conversation, whether you're a first-time investor or you're a continued investor, is talking about your buy box. So what's your buy box? Your buy box is essentially your investment strategy. What are the things, the parameters that you want to utilize for you to be able to make some interesting and efficient and obviously profitable investment deals. So defining your buy box, it's sort of twofold. It'll make you more efficient in your sourcing, and then it'll also give you a better investment discipline. So I call it a continued conversation because your, your situation can change, right? Maybe you got a second property, a third property, a 10th property. And so you can always be going back to your buy box. Refining it and figuring out what works and what doesn't. So some of the things that have helped in defining your buy box is obviously location, location, location, figuring out where, where it's located. Are you close to school zones, walking paths, rivers, entertainment venues? What, where really is this location? And obviously it's important when you're in, in your location, but it's also doubly as important when you're investing from afar. I always like to talk a little bit about occupancy rate. So you want to know whether or not that neighborhood is owner-occupied versus renter-occupied. And that can help you to better understand at the end of the deal, is this going to be a fix and flip? Is this going to be, you know, an STR? What's the strategy going to be here? And then it also gives you parameters in terms of what type of funding you're going to get. You know, traditionally with, with a more like a hard money lender, you're probably not going to be able to be owner occupied. So you just have to think through some of those strategies. Next one is your purchase price range. So really looking at your as-is value versus your after-repair value, even if those repairs are small, you can make a big difference here. So really figuring out What kind of leverage do you have? And we'll talk about that a little bit more when we, when we go through the Backflip app so that you can actually see this in action. We'll do a deal together. The next one is percentage of housing units with specific attributes. So that could be, you know, looking at percentage of units that have 3+ bedrooms. You're just looking for some commonalities here, whether or not you want to be you know, you want to take it in a unique route and you want to be some, you know, a house that has a unique attribute for the area, or if you want to be more aligned with what's already in the area. And then certainly last but not least, there's tons of data out there. Backflip is a great place to get some of that data, but there's also a ton of public record data that you can get some information on, you know, the demographics of the area. You know, whether there's a college in the town. I mean, there's a million data points we could talk about there. But when you're looking at those, those properties that you're not familiar with, that's incredibly important. All right. As, as director of community, I think sourcing has a lot to do with your community, and I'm sure most folks in the InvestHer community would say the same thing. So really, I think that's, that's your, your, your overall strategy really revolves around your community. You know, they say if you want to go fast, go alone, and if you want to go far, go together. So this is really what it's all about. So when I'm looking in a new place, when I'm trying to figure out a new market, first and foremost, the easiest way to get in there is social strategy. So join Facebook groups. Research who are the sort of like large players in the market, figure out how to get on their email list, how you can be involved in both their virtual events and their in-person events, and really start to get connected. I'll say obviously you should get to know your wholesalers in that market, realtors, other investors and contractors, sign up for as many emails as possible. And we'll talk about that. In the Backflip app how you can actually like compile all those and do some deal flow strategy there. But obviously you're just going to want to be able to utilize, you know, tech and utilize these email lists to your advantage. And then last but not least, obviously driving for dollars. So, you know, getting out in the field and seeing what you can find on the ground is also super beneficial as well. Alright, so we're talking about funding your deal. I think it's important to talk about a few different things specifically. If you're looking for a lender, this can also apply for thinking about your own capital as well. But there's a couple of things you should look for when you're funding your deal. First and foremost, look at the products. What type of products are, are these, is a lender offering? And being able to tell your story to better understand what kind of products are offered to you and where you are in your investment journey is really important. So a lot of what we look for is experience and, you know, basically background and understanding how to kind of package that in a way that you can really tell your story. So lenders will offer products that are really tailored to you and where you're at in your journey. So I think just understanding a full range of products and what you would need to access each of those products is really important. And note that like, this is if you're working with a long-term lender or a hard money lender, Like it is a relationship. So getting to know them and being able to tell your story and understand their products is really important. The second one is technology. So, you know, I, I like to say it's like meet, meet people where they are in terms of technology. But hopefully you're, you're looking at companies that are able to meet you in the field where you are and offer technology products that make your life easier, that make It's so that when you're in the, you know, in the field or when you're talking to your contractor, it's just a more seamless, seamless product and a seamless experience. And so ask them about what tech they offer, ask them about, you know, servicing, ask them about how they're doing rehab draws and figure out how they operate. Because if they aren't, if a lender or whoever you're working with isn't able to meet you, you know, in where you are in terms of do you text, do you email, do you FaceTime, do you Zoom? If they're not able to meet you there, that relationship can be just a little bit more challenging. So I encourage you to look at the tech piece in terms of, you know, your lender. And then the last one is around support. So figuring out, you know, is a lot of relationship-based, but what type of What kind of support does your lender offer? What kind of network do they have? Can they connect you to the right people? And figuring out what level of support do you need? Sometimes you might not need much support and you just need a quick touchpoint, or sometimes you might need someone that you can call at 11 PM and say, I'm going through this experience. What do I do? Who can you connect me with? How can you help? And so just understanding that level of support that they're able to offer and that you need. Is really important when you're thinking about who you're funding with. And I think, you know, obviously this is a relationship that's going to be ongoing for a specific period of time. So make sure that these are people that you, you know, like and want to be in business with. And then in terms of funding, making sure that you're prepped for that, right? So whether this is deal 1, Deal 20. I think it's important to talk about prepping for funding. So make sure that you have all of your options in front of you. So if you're, you're looking around, you've got some experience or no experience, you can, you can shop around for term sheets. You can figure out what are the best terms that are gonna be offered to me. And sometimes that means maybe a little bit higher interest rate for, you know, the support that you need, or maybe that means a lower interest rate for a lower touchpoint. You can shop around and really figure out, okay, these are all my term sheet options, and then go with one. I encourage you to have a folder of all of your required information so that it's really quick. You can close deals efficiently, and you can understand just, you know, if they need any documents from you, you've already got it. You're set. You don't need to worry about having to draw and pull those from anywhere. So I encourage you to just have a folder full of all the essentials and talk through with closing. So figuring out what they need for closing, how, how quickly a lender can close and what you're going to need for that, for that day of is really essential. Another one that's important is figuring out rehab draws. So if you're doing, you know, some work on your property, you need to figure out how to get that, that money so that you can pay for all of the construction. Figure out how they do rehab draws and what's the turnaround period and what is— what are the requirements for that rehab draw? At Backflip, super easy. It's very tech-focused. So we do virtual rehab draws, which essentially is just you or your contractor utilizing Zoom pictures, all of that. You send that to us. and, uh, we can get that, that money back over to you within, I believe, 24 to 48 hours. So just figure out what, what kind of timeline you're going to need in terms of getting those funds back into the account so you can make it a really efficient process. Um, and then last but not least, I'm talking about servicing. So figuring out, um, what the terms of the loan, loans are, loan is, what it's going to look like, um, in terms of you know, long-term, how are there any prepayment penalties, all of the sort of like minutia when it comes, when it comes to servicing. So those are, those are some requirements that I think about when you're, when you're talking about funding your deal. Awesome. Okay. And so now I'm going to see, let me see if I can, I'm going to stop sharing, then I'm going to actually share a screen. From my phone so that we can go through and actually look at what this looks like. Let's see on my phone, and then we can actually go through a property and see what this looks like. So here we are. Okay, I'm gonna try to get myself out of this screen here. Oh, nope, just kidding. That's my whole face. You don't want to see that. All right. So Here we go. Okay, so when we're talking about the Backflip app, I encourage all of you to download it. It's free. And like I noted prior, one of the reasons that we loved going to InvestHerCon, I think it was really well aligned, was because, you know, they're talking about generational wealth and removing some of the access and barriers to understanding or to getting into real estate and generational wealth. So Backflip in itself is really removing some barriers because you get access to all this data for free and it gives you a good gut check of like, is this going to be a good deal or not? I put in properties that I'm looking at, some of my, you know, the two properties that I already have. And so it's a really interesting way to be able to analyze a property and then be able to look at different comps in the area and apply for, for a loan. So let's look at a property together so we can kind of see what this looks like. When you're on the home screen, you can actually just type in an address. I'm going to put in one that we were just working on in Austin. Let's see, Cliffstone. And you can actually just type in any address that you have and it should pull it up. It pulls up comps within a 1-mile radius within the last 6 months. So, and like I said before, we do partner with data providers. So it should, should bring up some really interesting information and then you can actually send this to your realtor or whoever you're working with, you know, to get it, to get a good feel of whether or not this is spot on. So if you look up in the top left-hand corner, in terms of this analysis, you can see right now we're at $505,000 as estimated as-is value. And then if you look in the center, we're looking at $918,000 for our after-repair value. But what's really interesting is right now it's pulling 3 comps in the area. And what you could do is you can go to view all this View All button right down here. You can click that and you can see which of the properties that it's actually selecting this from. And you can zoom in on this map. You can figure out like, you know, what's close to here, what this neighborhood looks like. I love it because it gives me just such a better feel for where, you know, where it's located. You can click into the comps that's pulling in and you can decide Is this a relevant comp? Is it not? You're probably going to know your market. By the time you get here, you've done your research. You're probably going to know your market really well and what you're thinking about doing with your property. But you can look through here and say, oh, okay, these have some of the same features that make it a relevant comp or not. And then you can see how far away it is and obviously the price per square foot and all of those details. So what's really cool about this is you can actually remove or add comps in real time. So if I'm like, oh, you know what, this one, it doesn't quite look like it's going to be the right fit for us, we can go ahead and remove that in real time. And you can actually see that the ARV, the after repair value, changed in real time. So you can kind of finagle this and figure out, okay, you know, exactly where am I going to be? If, if I'm trying to make an offer and secure this quickly. So other thing I wanted to note, you can see down here features, you know, in terms of how many beds, baths, you can always edit that. So, you know, if you have more details from your wholesaler, whatever, you can, you can update that. And then what's really interesting is, is in terms of the calculating whether or not this is a good deal, you can figure that out by updating this in real time. Right now it says this looks like a great deal, but we're making some assumptions, right? We're assuming you can purchase this at $505,000. But let's say we could get it for $499,000. And then it's going to continue to— once we update some of these things, if we know we can get our debt financing for different, we can change our rehab cost We're only going to put $30,000 in it. We can continue to update this until we want and then we'll update that in real time. In terms of looking at some of these other numbers, you can look at your return on investment, which from this perspective looks great. You can look at profit, still looking like a great deal. And then what's really cool is that a lot of what we work on is fix and flip, but we also do a lot of BRRRR strategy, STR, all that. You can actually change this to a rehab and rent perspective. So if you're looking at it from that perspective, okay, so, you know, this is our monthly cash flow and we're looking— this is a return that we're looking at. So really cool way for you to kind of get a good gut check of what this looks like. What I love about it as well is you can, you can— once you've searched a property over here, you can look at all your properties. So it'll always know your deals that you're looking at. You can go ahead and share. So if you want to share, you love the app, you can share it. But also you can go ahead and up in this top right-hand corner, you can just go ahead and share that and you can share to anybody that you can send it through text or whatever. So you can send that right to your realtor and say like, hey, this is what I'm getting. Are you getting the same comps? So he's getting the same. Ideas here. And one other thing here is when you're ready to go ahead and, you know, apply for a loan, you can go ahead and go to loans and you can just say get a loan and you can apply right through here. So it actually pulls all the information through. So even things that we've updated, as you can see, the purchase price, you know, the rehab, it's updating in real time and you can go ahead and fill this out. And get a term sheet within about 2 hours or less. The cool thing about this, we don't pull credit and it gives you just a really good idea of like, if even if I'm not going to buy this property today, what kind of leverage am I going to get? What are the options that I have? And it just gives you a more informed way. So there's really no harm in applying today. Very easy to go ahead and apply for a loan. Last other thing that I was going to share in terms of the app itself is if we go back to the main screen, we talked a little bit about sourcing deals. This is a feature that I love that it's not going to work because I'm inside, but it's this live D4D. If you see this little camera right here on the right-hand side, you can click that. And what you can do is you're going to see my screen, my computer, but you can point this at a property. It'll actually, even if you don't know the address, it'll pull up the address by just pointing your camera. So if you're driving by, you can point your camera at a property that you're interested in, it'll pull up the address and you can do a live analysis right in the field. So I love that. I think it's so fascinating that Talk is so cool. So, yeah, that is a quick overview of the app. I, I'll go ahead and stop. Let's see if I can stop sharing screen here. And I wanna make sure that we give quite a bit of time for our Q&A. Let's see if I can do this.

Yeah, we got a bunch of questions. Good.

Good. Okay. So let me see if I can X myself out of here.

Yeah, that was great. With regards to Wendy is asking, do you lend to Canadians who are purchasing real estate in the USA?

Oh, great question. That I don't know. I will have to follow up. We just lend within the US, but I'm not sure about Canadians. Great question.

Okay.

I also know we have— I think she's on here, Heidi, from our team as well. And she's here to answer questions as well. I don't know if she's on here that we can pull her into the Q&A, but okay.

Cool. All right, Carol. Hey, Carol. No, Carol. Well, when I type in an address, I don't get any comps. Are that before ARV price? Does this only analyze properties that are actively listed?

Ah, no, it does not. It's not just for actively listed. It could be a super rural area or it could be a bug. Like I said, we're a startup. So if you want to send us the address, we can, we can run either run those manually or just figure out kind of what, what's going on there.

And Mariah, what's the best way for people to, to reach out to you guys? Like, what would you, if you could put that in the chat box, that might be helpful. Yeah.

Yeah.

In terms of downloading the app and getting in contact with you guys and everything.

Yeah, so I'm putting my email in there. And then let me go ahead and I'll add, yeah, just a quick download link as well.

All right, so I'm going to continue with some questions. Tara is asking, I download the app and there's no option to change the type of loan type option, flip to hold. Can Mariah show us that again, please?

Oh, are you talking about in the top left-hand corner in terms of I'm assuming in terms of fix and flip to rehab and rent potentially. I don't know.

Do you want to just show it again quickly?

Yeah. Let's see. Let me go ahead and show that. Cool. I think I have to rejoin the session here. Cool. Any other questions in the meantime while I bring this up?

Yeah, yeah, we'll keep rolling here. Nikki is asking, does this help you find comps from the MLS and off-market properties?

Yes. So we work with a variety of data providers. They pull from MLS and from public record data. So it goes into the algorithm. And like I said, it brings up comps that are within a 1-mile radius that are most relevant to the property you're looking at.

Cool. Michelle. Hey, Michelle, do you lend to foreign nationals? So do you lend to Canadians? Not ones that are looking to do deals in the US, but you may not know that based on the other answer.

Yeah, I don't, but I will get that response to y'all.

Okay, cool. Cool. Follow-up. I don't know what that means. Okay, access this data. Okay, access this data is awesome. But how does this company generate revenue? Is it from funding option? Teresa, good question.

I love that question.

Correct.

Yeah, the app is free. It's always free. You can analyze as many properties as you want. We make money off of the loans. And so I think right now it's around 4% of folks actually do loans with us. So really our goal is to try to make your lives easier and get that data to you. Cool.

All right. Okay. What is the cost and/or subscription levels for the app? It's free, right?

So that's free.

Easy enough there. Yeah. I just want to make sure. Donna's asking, does the D4D feature help you find out the current owner's name and address from public records?

It does not currently. It'll give you, you know, the, the whole analysis in terms of, you know, beds, baths, when it was built, you know, the, the typical data that you'll see in an analysis. But it does not show the, the name of the current owner.

Okay, cool. And then who are the lending partners in the app?

Yeah, great question. So We are actually our own lenders. Wow. We're just going to join this 10 times. We have our own debt warehouse, and so you'll actually be lending specifically with Backflip.

Great. Cool. All right, talking about funding. All right, talk about funding prep. You say that you like experience. How does someone who has only done a few flips get to work with you?

Love it. So yeah, we work with first-time investors. We work with many investors who, 20+ deals. So we typically look at experience in terms of your background. That can be several things. Have you done any fix and flips? Do you have any rental properties? We'll actually look at, do you have a background in construction? Do you have a background you know, in a relevant field, or you're a realtor, you know, it's really about like, do you have expertise in the field or sort of like a tangential field that would be applicable? So showing that experience is part of the story that you're telling to different lenders.

Well, Marcy— hey, Marcy, is there a way to add your own comps to the app?

Oh, No, not as of now, but that's a great idea. Like I said, we're a startup, so if you see or want new things, new features, let us know. And that's really interesting. I haven't heard that one before.

Okay, so Nicole is asking, do the lenders in Backflip app have limitations on timeline for refinances or depends on the lender? So Backflip does their own lending. Mariah just shared that. So in terms of a timeline for refinance, does it vary or any information you can share about that?

Yeah, yeah. So we are typically a 12-month loan. There's no prepayment penalty. So, you know, we have folks that utilize us and, you know, they'll refi out within a month or 2 weeks. So really it's up to you and what works best in your, you know, specific situation.

Got it. Okay, cool. What's the turnaround for general lending decisions?

Yeah. So typically from when you apply to closing, that's anywhere from— I mean, I've seen it happen in a few days, but really to give us the right amount of time, you could do 7 to 10 days. Average is probably 2-week turnaround.

Okay, cool. Is there a minimum credit score required? Is there a minimum?

Yeah, you bet. So 640 is minimum credit score. And if you aren't able to hit that number, we can talk about guarantors and figure out, you know, ways that, that we can make that work.

Cool. Teresa is asking, do you lend on multifamily properties?

Yeah, we do. So we lend single-family all the way up to fourplexes. So it's really focused around those options.

Yeah, makes sense. Christina is asking, where does the app get its data?

Yeah, partnerships with multiple data providers, like I said, from MLS and public record.

Okay, great. Are there general— okay, are there general lending terms, or is each loan treated differently? Kind of answered that.

Okay. Yeah, I mean, I think you might be a little bit talking about, like, term sheets, in which case, like I said, I would encourage you to apply In terms of leverage, we just released a new product that is called our Zero Gravity product. It essentially takes your leverage all the way up to 97%. So if you have a few properties under your belt, the leverage, it gets you to a really incredible place.

Right. Cool. Do you suggest in full name using your name of your business name?

I'm not sure what that means. I'm assuming they mean lending. We can lend to individuals, we can lend to LLCs, so we can do both.

Got it. Okay, so Michelle. Hey, Michelle. Michelle.

Wow.

One of our Strive members. I ran a comp on a 5-unit I recently purchased. The comps are all single family. Is there a way to adjust that type of comps? In other words, in the app?

Got it. Got it. Right now it's really primarily focused on single-family up to 4-plex. But if you do want to run some analysis with us, just shoot me an email and we can, we can run some on the back end.

Okay. And then she was asking, are there DCSR loans? So is there other type of loans that you're offering or depending on the product or the property?

Yeah, depending. So we've done a couple DSCR. We're still in like early stage, but based on investor needs, we're starting to move in that direction. So—

Oh, she meant DSCR. That's right. I'm like spelling it and I'm like DC. I'm like, that's why I was getting confused. Okay, that's not it.

Okay, gotcha.

Yeah, gotcha. Gotcha. I'm familiar with that, of course. All right, Christine, you're asking, are the loan short-term hard money or 30-term available. So those available short-term and hard money are there. Sounds like you're offering a variety of products.

Like I said, we're starting to move into DSCR, but typically our most common are a short-term 12-month hard money loan.

Do you get a formal appraisal before closing on a hard money loan?

So we can do both. And I love it because we do virtual appraisals. So We can do a virtual appraisal before you close, or we can do a post-close appraisal. And like I said, easy schedule on Zoom. Very simple.

Cool. How old is the company?

Yeah, we started in 2020. Young.

And do the loans include funds for rehab? It's a good question.

Yes, yes, we will fund up to 100% of rehab.

Was there an option for— okay, I think you said this. Is there an option in the app for short/mid-term rental analysis?

Yes. If you're looking at it from a rehab and rent perspective, yes. And I think we had— we were going to come back to that. So let me see if I can share screen and share what— let's see. Oh, it says only hosts can share in this meeting.

Oh, you can, you can share it again.

For some reason there's multiple of me in this. Yeah, I know.

Which one is that? Let me see here. I'll make sure you're— no, you're co-host.

So, but yes, you can look at it from a rehab rent perspective. Some of our, our, our most common, or I'd say our most repeat borrowers have been folks who are doing burst strategy and, and all of that. So yes.

Ursula says she's in the app and entering properties. It's giving her more info needed message and then it doesn't let her continue. Is there a reason for that?

I'm assuming maybe a bug, but I'm not sure. Unless it's an extremely rural area, it should be pulling up. Yeah, go ahead. I'll, I can post my email again if that's helpful, but yeah, send me an email and we'll, we'll work through it.

Manage it. Yeah, Renee's saying, do you guys work in all states, including California?

We lend in 44 states. Here's a link to download. We lend in 44. We are— we have submitted our, our information and are hopefully, fingers crossed, within the next few months getting into some of those stickier states. So California, Arizona, those are the ones I think we get the most common.

Got it. Agnes is asking, is D4D and Backflip only available as a phone app?

Yes, currently just as, as a phone.

Okay. Maya, what is the LTV percentage? Is there a minimum loan amount that you'll loan on?

Yeah. Yeah. So typically minimum loan amount is $65,000. And LTV, yeah, like I said, you can get up your leverage up to around 97% if that's, um, if you have experience. So depending on where you're at, you're probably going to be anywhere from like 85% all the way up.

That's pretty significant. Um, okay, Kathy's asking, do you lend in Indiana?

Yeah, we do.

Cool. Florida?

Yep.

Someone asked that. Okay, cool. All right, you got those taken care of. Um, that's a good question too. Do you fund for new construction on a lot or a teardown?

Great question. Not currently. We don't do land deals, but hopefully at some point as we continue to grow.

Cool. And then Nevada. Someone's asking about Nevada.

Yep. Yeah, there's only a couple, like I said, that are those people keep posting Wisconsin.

Yes. Is there a place on your website where they can get the where to go unless their state you know, if they want to research it, is it on your website?

We just rebranded, so it should be on the website.

So out of all the states, which ones don't you lend on? Did you say that already?

Yeah, so like I said, we're in 44. So the big ones that we don't lend on are California, Arizona. We just started in North and South Carolina. I'll have to get a list over to y'all so you can share in the, in the follow-up email.

Yeah. Okay, cool. Awesome. Anything else for you, Mariah? This is great. I think the key is to— what I love about it is that they, you know, folks can really do some, you know, analysis and then go from there in terms of, okay, how do I, how do I find the right deals and then get them funded, which is great, which is Awesome that it's a free app. It was one of the questions that was asked. I just wanna make sure I didn't miss it. It was actually, it was, oh, how can you, can you export a list of the, of the D4D to Excel? Is that a possibility?

Oh, great question. Not that I'm aware of, but let me make a note of it.

Getting a lot of good ideas here.

I know. Well, see, that's the joy of working at a startup is that we can build this product and we have built this product with investors. And so it really is a beautiful reflection of what the needs are.

Got it. A couple of people just— Lisa asked, she missed the ARV. You said 85% and higher, correct? Depending on variety of Experience.

Yeah, it depends on your experience. Typically what we're looking for in terms of, you know, what you'll get for your products are experience, credit score, and the property itself. Those are like the 3 main things that we're looking at.

Cool. Do you fund on ARV or LTV?

Okay.

Do you fund on ARV or LTV and what percentage?

Great question. I don't know if Heidi is in the room. She's probably a better response on that.

Okay. Do you lend before a property? Okay. Can you lend before a property is identified? I would think no.

No, that's one of the 3 things that we're looking for is that property.

Yeah. Yeah. Okay, awesome. Do you lend on private? Good question, especially. In today's world of creative financing. Cindy's asking, do you lend on properties that are partially seller financed? It's actually a good question.

Yeah, from what I know, yes, we can work with that for sure.

Okay. All right, cool. Well, we're going to wrap things up with every webinar we do. Mariah, thank you so much. This was great.

Yeah, thanks for having me.

Highly recommend everyone to download the app. And it's free, like, like Mariah said. And sounds like there's some follow-up questions. Sounds like— and what's really neat about Mariah and her team, very open, excited, and willing and supportive of our community. So ask questions and we'll get the support that we need, you know, for you. Really quick, I'd love for everyone just as we end to share one takeaway, one, something that they learned, something that they're taking away from this webinar. Anything that we do, anything we're involved in, we really want to make sure your, your time is well spent and that you're, you're gaining something to grow your portfolio. That's the whole point of why we exist, right, is that women are taking actions to move the needle and grow your, grow your portfolio on your own terms. So love to hear any takeaways, any learned lessons, anything that's helpful for you as you move forward on your path. It'd be great to just put that in the chat box. Marcy, one of our Strive members. I learned it was right. There are higher LTVs out there. That is true. And that's a good thing. The live drive, excited to see the app, live driving for dollars, camera application. So helpful. Very cool. Love that I can analyze it. Yep. In the field. Yeah. Analyzing the field is great. Very cool. I learned about Backflip.

Very cool.

Well, thank you everyone for being on. Mariah, thank you so much again. We'll get this, um, the ability for people to download the app and your information on the follow-up that goes out. And, um, just thank you so much. Appreciate all your time. And everyone, thank you so much for being on today.

Thank you so much.

All right, have a great day, everybody.

Take care.