Andrew J. Liersch III, Author at Slingshot Investments

Construction Loan vs. Fix-and-Flip Loan: Which Does Your Project Need?

By Andrew J. Liersch III | September 11, 2026 |

Spectrum diagram showing where a project shifts from a fix-and-flip loan to a ground-up construction loan — cosmetic rehab and gut renovation underwrite as fix-and-flip, while additions, structural work, and teardowns underwrite as construction — with four warning signals listed below. Slingshot Investments.

By Andrew J. Liersch III — Founder & CIO, Slingshot Investments. 10+ years in private lending, $500M+ funded. Former Wells Fargo Private Mortgage Banking, Bear Stearns, and Deloitte Consulting. Short answer: A fix-and-flip loan funds the purchase and renovation of an existing structure; a ground-up construction loan funds land plus a build from the dirt. The interesting question lives in…

How Much Land Value Counts Toward a Construction Loan?

By Andrew J. Liersch III | September 2, 2026

Diagram showing how land value counts toward a ground-up construction loan in three scenarios — buying the lot, owning it free and clear, and owning it with a land loan — plus a worked example where $350,000 of owned land equity covers the entire down payment. Slingshot Investments.

By Andrew J. Liersch III — Founder & CIO, Slingshot Investments. 10+ years in private lending, $500M+ funded. Former Wells Fargo Private Mortgage Banking, Bear Stearns, and Deloitte Consulting. Short answer: If you own your lot free and clear, its appraised value typically counts as equity toward your down payment — and on many deals, it covers the…

How Do Private Money Lenders Underwrite a Ground-Up Construction Loan?

By Andrew J. Liersch III | August 26, 2026

Diagram of the five pillars private money lenders underwrite on a ground-up construction loan: land and entitlements, the construction budget, completed value, the builder file, and the exit plan — with common deal killers listed below. Slingshot Investments.

By Andrew J. Liersch III — Founder & CIO, Slingshot Investments. 10+ years in private lending, $500M+ funded. Former Wells Fargo Private Mortgage Banking, Bear Stearns, and Deloitte Consulting. Short answer: Private money construction underwriting comes down to five pillars: the land and its entitlements, the construction budget, the completed value, the builder, and the exit. Your credit…

Private Lending Market Update: What Mid-2026 Data Tells Real Estate Investors

By Andrew J. Liersch III | August 14, 2026

Private lending market update graphic showing the national median bridge loan rate at 9.75% in June 2026, with a declining rate trend. Slingshot Investments, San Diego.

By Andrew J. Liersch III — Founder & CIO, Slingshot Investments. 10+ years in private lending, $500M+ funded. Former Wells Fargo Private Mortgage Banking, Bear Stearns, and Deloitte Consulting. Halfway through 2026, the private lending market update is unambiguous: money is getting cheaper, volume is accelerating, and construction lending is the breakout story of the…

What Does a Ground-Up Construction Loan Cost?

By Andrew J. Liersch III | August 10, 2026

Chart showing a construction loan balance stepping up from $210,000 at closing to $850,000 at completion, compared to paying interest on the full loan amount from day one — as-drawn interest costs about $54,000 versus $89,000, saving roughly $35,000 over a 12-month build. Slingshot Investments.

By Andrew J. Liersch III — Founder & CIO, Slingshot Investments. 10+ years in private lending, $500M+ funded. Former Wells Fargo Private Mortgage Banking, Bear Stearns, and Deloitte Consulting. Short answer: In mid-2026, a private money ground-up construction loan typically prices at 9.5–11.5% interest and 1.5–3 points, plus a fee stack (documents, underwriting, appraisal, draw inspections, title)…

How Do Ground-Up Construction Loans Work?

By Andrew J. Liersch III | August 3, 2026

Diagram showing how a ground-up construction loan is structured â€” land advance funded at closing, construction holdback released in draws as work completes, and an interest reserve carrying payments during the build. Slingshot Investments.

By Andrew J. Liersch III — Founder & CIO, Slingshot Investments. 10+ years in private lending, $500M+ funded. Former Wells Fargo Private Mortgage Banking, Bear Stearns, and Deloitte Consulting. Short answer: A ground-up construction loan funds a new build in two pieces. At closing, the lender advances against the land — the purchase price if you’re…

What Does a Fix-and-Flip Loan Cost?

By Andrew J. Liersch III | July 29, 2026

Fix-and-flip loan cost diagram showing 9–12% interest, 1.5–3 points, and other fees are small and predictable, while time on the loan is the real margin killer

By Andrew J. Liersch III — Founder & CIO, Slingshot Investments. 10+ years in private lending, $500M+ funded. Former Wells Fargo Private Mortgage Banking, Bear Stearns, and Deloitte Consulting. Short answer: A fix-and-flip loan in 2026 generally costs about 9–12% interest (interest-only) plus roughly 1.5–3 points at closing, with some additional fees for appraisal, per-draw…

How Fast Can You Close a Private Money Loan?

By Andrew J. Liersch III | July 20, 2026

Private money loan closes in 8–10 days vs. 30–45 days for a conventional loan — Slingshot Investments

Short answer: A private money loan on a fix-and-flip can close in roughly 8–10 days for a clean file — and in a pinch, faster. That’s a fraction of the 30–45 days a conventional loan typically takes, because private lenders underwrite the property and the exit instead of spending weeks verifying income and debt. The…

Bridge Loan Rates Just Hit a 12-Month Low: What Hard Money Costs in Mid-2026 (and Why San Diego Borrowers Are Paying Less)

By Andrew J. Liersch III | July 16, 2026

Line chart showing national average bridge loan rates declining from 10.59% in June 2025 to a 12-month low of 10.07% in June 2026, with San Diego averaging 9.67%. Slingshot Investments; data from Lightning Docs.

By Andrew J. Liersch III — Founder & CIO, Slingshot Investments. 10+ years in private lending, $500M+ funded. Former Wells Fargo Private Mortgage Banking, Bear Stearns, and Deloitte Consulting. If you’ve been waiting for private money to get cheaper before pulling the trigger on your next project, the data says the wait is over —…

What Is a Draw Schedule on a Rehab Loan?

By Andrew J. Liersch III | July 13, 2026

Short answer: A draw schedule is the agreed plan for how a lender releases the renovation portion of a fix-and-flip loan – in stages, as work is completed, rather than all at once. You complete a phase of work, request a draw, an inspector verifies the work is done, and the lender reimburses you for…