Message to those vetting FIGApr 12, 2021
This is specifically for individuals that are interested in FIG. You may have just come across them and are vetting their processes, developments, and have maybe driven past some of their sites to take a look at it.
You're likely wondering what things would look like on the financing side? How it all works together? What are the early steps In terms of getting started? etc.
Even if you haven't selected a property yet and are just doing your research, you're going to have some questions on how the financing works since the FIG process is a little bit unique.
The Fourplex Investment Group model is a pre-construction model (it's wholesale). So while you're in the early stages of working with FIG, one of the first things that the real estate agents will ask you is whether you are pre-approved or pre-qualified? They'll then ask you to get in touch with their preferred lender to finish that review.
We have great resources on our website that go over the financing process for 2-4 unit multifamily and what you can expect for a construction loan. If you want to be proactive on the pre-approval just in case a property comes up that you're interested in, you can start that process now so that you have a leg up on securing it.
You can start the pre-approval request through our website by clicking here. It's a secure online portal where you submit an online application, with a list of financials to upload. Our lender will immediately get a notification when you submit those documents and he'll then review it and give you a call back to follow up and let you know how things look. He'll then spend around 5-10 minutes on the phone to go through some details.
Those are the first steps for those who are just getting familiar with FIG and getting to know us for the first time. Feel free to use the utilities and references on our financing page to get an understanding of how real estate financing works. Let us know if you have any questions!