Groundfloor pledges $30 million to support Tulsa's home flippers and independent real estate developers
The award-winning fintech company is doubling down in Tulsa to help meet demand in the red-hot real estate market
ATLANTA, Feb. 9, 2023 /PRNewswire/ -- Groundfloor, the wealthtech platform that makes real estate investing easy for everyone, is announcing its entry into the Tulsa, Okla. market. To mark the occasion, Groundfloor is pledging $30 million in dedicated financing for local home flippers and independent real estate developers in 2023. This pledge will not only go toward fueling Tulsa's residential housing boom, but also empowering everyday investors to participate in the area's revitalization by investing in single-family properties, requiring only $10.
"The Tulsa metro is a solid and resilient residential real estate market," said Groundfloor co-founder and CEO Brian Dally. "We're proud to provide capital to local investors who do the hard work of sourcing and redeveloping aging housing stock for first-time homebuyers there. Our platform is open right now to everyone who wants to participate."
As part of Groundfloor's entry into Tulsa, the company is working with Josh Ploch, an expert in the local housing market.
"I'm thrilled to be working with Groundfloor, helping revitalize neighborhoods across Tulsa," says Ploch."With Groundfloor being the premier real estate investing platform, my fellow Tulsa residents can find local properties and make fractional investments in their own communities."
During the past 10 years, Groundfloor has loaned more than $800 million in capital to independent real estate entrepreneurs, who improve their communities while earning strong returns on their own investments. Some of the advantages of being financed by Groundfloor include:
Industry leading terms: up to 75% loan to after repair value with up to 100% of purchase, renovation and closing costs rolled into the loan
No appraisal: we complete an internal review of the property value
Deferred interest payments: nothing due until the loan repays, which provides maximum cash on hand for the renovation project
A range of loan amounts: loan sizes from $75,000 to $750K
New investors are welcome: no previous experience required
Quick closings: we move at the speed of the transaction
Convenient digital process: The entire process can be easily completed and managed electronically
Groundfloor also offers investment opportunities to the general public through its online marketplace, where single-family real estate properties are available for investment, requiring only $10 to get started. Real estate, compared to other investing, continues to be the best performing asset class and hedge against inflation. Furthermore, all of Groundfloor's real estate offerings are qualified by the Securities & Exchange Commission, and place Groundfloor in a first lien position, providing industry-leading transparency and safeguards for every investment.
Real estate developers looking to take advantage of Groundfloor's $30 million financing pledge can start the process by completing an online application at https://borrowers.groundfloor.com/tulsa. Investors looking to take capitalize on Groundfloor's record of consistent 10% returns and portfolio diversification can open an account and begin investing in minutes at Groundfloor.com.
Celebrating its 10th anniversary in 2023, Groundfloor is an award-winning fintech company that makes real estate investing easy for everyone, whether you're a beginner or a pro. Known for its regulatory prowess and developing completely new financial products, the company was the very first to be qualified by the U.S. Securities & Exchange Commission to offer real estate debt investments for both accredited and non-accredited audiences. The company has won numerous awards for its product innovation and growth, including three years in a row of being on the Inc. 5000. Since it launched in 2013, Groundfloor's investors have consistently seen 10% annualized returns across its short-term investment offerings. For more information or to start fractionally investing in real estate, visit Groundfloor.com.
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SOURCE Groundfloor Finance Inc.