Going into the New Year we decided it would be beneficial for RCN Capital to obtain a better understanding of our borrower’s real estate investing habits. We could then use this information to cultivate a better lending experience for our past and future brokers and borrowers.
To help us gather this information we put together a 15 question survey to send out to borrowers who worked with us throughout 2016.
The Real Estate Investing Survey asked our borrowers questions such as;
“What is your primary real estate investing strategy?’
“What property types do you primarily invest in?”
“What is your main source of funding for purchasing and/or renovating your investment properties?”
“What sources do you use to find and buy properties?”
Thanks to our cooperative borrowers, we received a great response to the survey which allows us to have a better understanding of our borrower’s real estate investing process. We learned that 57% of our borrowers intend to purchase property to fix and flip, while only 15% purchase a property to hold as a rental. Also, the majority of fix and flip investors complete between 2 to 4 flips a year, with a close second majority completing 6 to 10 flips over the course of a year.
Overall, RCN Capital’s 2016 Real Estate Investing Survey was used to gather more information on our customers’ real estate investing habits over the past year. We hope to use this data to improve our loan programs and our business throughout 2017.
You can view the full reports below: