Pyatt Broadmark‘s real estate lending funds offer short term loans for acquiring, renovating and building properties in the Pacific Northwest. The annualized return for its Fund I is an impressive 11.44% since its 2010 inception. But after its 2013 high of 12.35%, returns have declined year after year, to 10.5% in 2017. I was interested to see that its Fund II for loans in the Mountain West held up much better, with a 11.54% return in 2017.
The National Association of Realtors reports that investors of single family rentals have much better luck finding bargains in cold weather. In Seattle, where the summer to winter temperature spread is 24%, the price savings is 24.7%. In San Francisco, with a 12 degree temperature spread, the cost differential is 19.3%.
30 basis points
According to LendingTree, the best 30-year-fixed loan offers for borrowers with the best profiles had an average APR of 3.80%. But the average for all borrowers? 4.42%. Those with 760+ credit scores were quoted 4.26%, but those with 680-719 credit scores got 4.56%. The 30 basis point spread is the largest it’s been since April, 2016.
Up to $50.2K
Houzz says that’s the cost of renovating a large (200+ SF) kitchen in Seattle. In Miami, the same project would cost as little as $17K! The top priority for 63% of kitchen remodelers is more storage.