Category Archives: Veristone News


Dec

21

2016
A Winning Property

A Winning Property

Veristone would like to congratulate Sandra Lambrecht! In early 2016, Sandra set-out on a plan to renovate an 85-year-old Queen Anne Tudor-style home. Having been with Sandra at the beginning of this project, we can verify that the property needed more than a little TLC. Sandra boldly embarked on a plan to renovate the structure down to the studs, in many areas, while paying careful…

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Sep

06

2016
Builders can find spec loans with hard money lenders

Builders can find spec loans with hard money lenders

Still wary of past shaky lending practices and encumbered with regulations (like the 2010 Dodd-Frank Act), traditional lenders are not willing or able to provide speculative construction loans. Unlike the banks, hard money lenders like Veristone are eager to fund such deals. With loan periods that are much shorter than traditional banks, hard money lenders like Veristone are able to adjust to market conditions and…

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Aug

07

2016
Appreciation in the Northwest – Setting a Red Hot Pace

Appreciation in the Northwest – Setting a Red Hot Pace

In spite of easing a bit from prior months, home prices are continuing to experience positive appreciation. The S&P Case-Shiller 20-City Composite index for May (as reported at the end of July) rose 5.2 percent year over year. This accounts for slight slowdown from April’s 5.4 percent increase. The Case-Schiller index tracks changes in the value of residential real estate nationally as well as in…

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Jun

05

2016
North Everett New Construction Loan

North Everett New Construction Loan

Another successful venture for a Veristone client: PURCHASED VACANT LAND: $ 95,000 PERMITS & ENGINEERING: $ 20,000 TOTAL COST TO BUILD: $131,500 TOTAL INVESTED: $246,500 FINAL SALES PRICE: $349,995 LOAN DATE: May 2015 to October 2015 LOCATION: North Everett, Snohomish County TYPE: New Construction Loan DETAILS: Veristone Capital partners with experienced builders to finance ground up construction on a case-by-case basis. The subject property is…

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Apr

27

2016
Funded by Veristone: Alderwood 2 New Builds

Funded by Veristone: Alderwood 2 New Builds

Veristone Mortgage LLC is pleased to announce the funding of a $435,000 spec construction facility for Eli Price Development/RSI-Construction. The facility will be used to build 2 spec homes in the Alderwood Subdivision, Eagle, ID. Homes are designed in the highly desirable Patio-Style/ Maintenance Free Living product seen in The River District For more information on these properties, please contact Karen Elitharp, Silvercreek Real Estate. For…

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Apr

24

2016
Preparation Meets Opportunity

Preparation Meets Opportunity

We’ve probably all the heard at least one of the following quotes, “Luck is what happens when preparation meets opportunity” and “The harder I work, the luckier I get.” Both of these quotes point out the connection between good fortune and preparation. This point holds true in the business of fix and flip investing. The better your preparation, the higher your likelihood of success (and…

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Aug

27

2015
Product spotlight: Fix & Flip

Product spotlight: Fix & Flip

Product spotlight: Seattle Fix & Flip The Veristone Fix & Flip loan is the ideal product for investors looking to quickly purchase, renovate, and resell property in the Pacific Northwest. Fix & Flip loans simplify this process for investors by providing both acquisition and remodel funds within one loan. After using Veristone funds to purchase property (auction or non-auction), a construction holdback that finances rehabilitation…

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Aug

27

2014

The Truth about Hard Money

  Although “borrowing hard money” might sound more daunting than using another type of loan, individuals that jump to this conclusion might be unaware of how this form of lending typically works. Secured by the value of a borrower’s property, hard money usually functions as a short term loan (bridge) that is more diverse than its traditional counterpart. Because hard money usually comes from private…

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Aug

26

2014
Auburn Flip

Auburn Flip

  Another Veristone loan has helped execute a successful King County fix & flip. This client completed a full remodel on a very distressed Auburn rambler. Seeing great potential in the 2,000+ sq. ft. parcel, the client made drastic changes to both the interior and exterior before placing it back on the market. Outside, the house now looks totally different after several coats of paint…

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Dec

17

2012

Edmonds Fix & Flip Loan

LIBERTY CAPITAL DEALSHEET LOAN AMOUNT: $272,000 IMPROVED PROPERTY VALUE:  $420,000 LOAN FUND DATE: November 16th, 2012 (Start Date) LOCATION: Edmonds, Snohomish County- Residential TYPE: Fix & Flip Loan- Six Month Term DETAIL:  This property was purchased at foreclosure auction in October, 2012.  The property was subsequently refinanced into a Liberty Capital Fix-&-Flip Loan in November.  The subject property has an 800 square foot unfinished basement which will…

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