Fund That Flip

Fund That Flip, Inc. does business as Upright and lends to residential redevelopers and builders. It originates short-term bridge loans for fix-and-flip projects and loans for new residential construction, and funds them in part by selling participations to passive investors on its own platform.

On the investor side there are three routes: individual project notes from a $5,000 minimum with three to 24 month terms; a fixed 12 month note product from a $1,000 minimum; and the Horizon Residential Income Fund, a REIT-structured fund holding short-term residential bridge loans, from a $15,000 minimum with quarterly distributions and a target return of 10 to 13 percent. Each project listing shows the loan amount, loan-to-value and term, with a short note on the property and the developer's track record.

Upright says it launched in 2014, after the JOBS Act opened loan participations to more investors, and that it has managed more than $2 billion in investments, repaid 99.7 percent of principal, paid more than $59 million in interest on individual notes, and that 93 percent of borrowers come back for another loan. It runs a hybrid workplace with an office at 1300 East 9th Street in Cleveland, Ohio and staff across the country; loan and investment questions both route through 646-895-6090.

Borrower rates, points and fees are not published, and fund return figures are targets rather than promises. Ask for a term sheet before committing to a loan, and read the offering documents before investing.