Although the majority of flippable homes are purchased with cash, all-cash buys hit an eight-year low in the third quarter of 2016, despite flipping activity hitting a six-year high in the previous quarter. According to Taylor Johnson client Renovo Financial, more investors are turning to private lending sources like Renovo as local banks instead focus on larger loans. In fact, Renovo recently celebrated the funding of its 1000th loan since the firm’s inception in 2011. Click here to learn why alternative financing options are better suited for flips, and why there is no slowdown in sight.

Eric Workman, vice president of marketing at Renovo Financial, explains the rise in non-bank lending to GlobeSt.com.