Elevation Investors was founded in 2018 by a group of residential and commercial contractors who have experience in “flipping houses” for profit. The founders were often approached by people who wanted to flip houses. They’d say, “I’d like to double my rainy day fund” or “I want more passive income” and “I’d like to fund your next construction loan”. But inevitably they didn’t understand just how much money was needed to fund a house flip. It’s usually hundreds of thousands of dollars between the purchase price and the renovations. Most of the people who approached us had amounts from $10K to $50K. It occurred to us that if we could crowd source all of the funds these people offered together, we could eliminate the need to go to bank and get a mortgage on properties we might only keep for 1 – 6 months. Additionally, but reducing our carrying costs, we could make a profit on smaller margin opportunities, that we might otherwise pass over.
Categories: About UsReal Estate Investing
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