passive income through your invest- ment property. Another reason that short-term bridge loans can seem a little less appealing is the fact that they can come with prepayment penalties. For instance, at RCN, our short-term bridge loans have a six-month pre- payment penalty. This differs from RCN’s short-term fix-and-flip loan, a product that has no prepayment pen- alties and can be paid off by the inves- tor as quick as possible. Six months is not that long over the course of a one- to three-year loan, so don’t let this deter you. It is just something to be aware of before committing to the short-term bridge loan. This would be another perfect opportunity to speak with your lend-
er about your long-term goals for the property. If you know you want to make renovations at some point, your lender will direct you to the fix- and-flip product. Ultimately though, if you are unsure with what your next steps will be for this particular property, the bridge loan is a perfect alternative that allows you to make money while you decide. There are so many options out there for you as an investor; it is important to know all of them before deciding on a specific property that could affect your entire investment portfolio. The bridge loan is there to help give people a little more time before taking that important next step and has proven to be extremely beneficial to investors. If you have
any further questions about whether the short-term bridge loan prod- uct is right for you, don’t hesitate to reach out to RCN Capital to continue this discussion. •
Nate Zielinski, Junior Business Development Coordinator, joined RCN Capital in 2020. He adds his ambition, communication skills, teamwork, and
public speaking ability to RCN’s Business Development team. Nate’s goal will be to recruit new, long-lasting business relationships with brokers and borrowers as well as maintain the strong relationships RCN Capital already has in place. Nate’s prior work experience includes sales, advertisement, copywriting, and social media. Nate graduated from the University of Connecticut in 2015 with a Journalism degree.
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