Mobitect and Broad Enterprise Launch Zero-Down Payment Finance Scheme for Rental Housing
Mobitect and Broad Enterprise have started offering a finance scheme that lets real estate owners begin value-up construction and vacation rental businesses with zero initial investment. The finance company covers the entire upfront cost, so the arrangement does not touch the owner's personal or corporate bank credit lines, since it uses a trust and receivables securitization mechanism. Monthly payments run up to 120 installments at an interest rate of about 12 percent.