🚀 Getaway is Now Part of Doorvest
Getaway has joined forces with Doorvest to revolutionize your real estate investment experience.
We’re bringing you a seamless, all-in-one platform for sourcing, financing, and managing investment properties.
Ready to take your investments to the next level?
Continue to Doorvest
Getaway is a real estate technology company. At Getaway, our mission is to help real estate investors like yourself grow and expand their portfolios. We do this by providing you with AI-powered tools and equity financing products that help investors scale.
Please click here to answer a few questions about your preferences and set up a call to speak with our team. From there, we'll delve into the details of our process, addressing any further questions you may have followed by next steps.
Find Deals: Intelligent investing: AI-powered property selection that pays off. Effortlessly discover high cash-flow properties in a challenging market.
Finance Deals: Unlock exlusive financing for cash-flowing investments. Make the most of every dollar with Getaway's investor-friendly equity & DSCR loans.
Grow Faster: Accelerate you real estate portfolio growth with Getaway. Tap into market segments known for superior cash flow without the usual financial constraints.
Yes, absolutely! Once you've identified a property you're interested in, our team will underwrite it to ensure that it meets our criteria for our debt service coverage requirements. No two deals are the same; we take into account factors such as the property's cost and revenue potential to determine whether it meets the requirement. Our team is always available to provide guidance and support throughout the process to help you.
Yes, Getaway places a first lien on the property.
Eligible: Single family (1-4), Multi-family (5+)
Not Eligible: Condo, Manufactured, Land, Mixed Use, Commerical
Yes, Getaway supports all residential properties, including single family and multi-family properties.
At the moment, we only support long-term rental properties. We plan to add short-term rentals in the future, so please check back.
Getaway's AI-powered sourcing is currently active in OH, GA, TN, AL, WI. Currently, we offer financing in OH.
We target properties with a purchase price between $100,000 to $1,500,000.
Absolutely! If you utilize Getaway's financing, you are required to purchase the property through an LLC.
We strongly recommend utilizing Getaway's in-house brokerage to ensure the most seamless transaction process.
Getaway has a minimum interest requirement of 24 months. For example, if you want to prepay the loan in month 20, you would owe the remaining 4 months of interest payments in additional to the principal balance. After 24 months, there is no penalty.
Our financing product is not suitable for fix and flip or large rehab projects. Improvements to the property are subject to owner discretion. In order to obtain financing from Getaway, an appraisal will be required to support the value at acquisition.
Getaway's pre-qualification process is quick and easy. The application entails a soft credit pull and a self-reported statement of liquidity. A soft credit pull does not impact your FICO score. Once you're in contract on a property, we will request you to complete a formal application for financing. A hard pull will be conducted, as well as verification of liquidity during underwriting.
Ready to get pre-qualified? Apply now!
No. For pre-qualification, Getaway will perform a soft FICO pull. Unlike a hard credit inquiry, a soft inquiry does not impact your credit score.
Investors who meet the following requirements:
- Owned investment real estate in the past 3 years
- Minimum FICO of 720+; no foreclosures or bankruptcies
- Liquidity in an amount equal to or greater than 25% of purchase price plus 6 months of reserves (PITI)
No, Getaway does not have income requirements.
Yes, applicants must meet certain criteria to qualify. We require borrowers to have a good standing credit history, along with a minimum FICO score of 700.
We require that investors have owned investment real estate in the past 3 years.
Our standard term is 5 years.
Our rates vary based on several factors and are subject to change based on market fluctuations.
An investor can extend the term in 1 year increments, up to a total of 7 years. Extensions are subject to approval and fees.
Getaway has a minimum interest requirement of 24 months. For example, if you want to prepay the loan in month 20, you would owe the remaining 4 months of interest payments in additional to the principal balance. After 24 months, there is no penalty.
Once you're in contract on a property, we will request you to complete a formal application for financing. A hard pull will be conducted, as well as verification of liquidity during underwriting.
The following assets count towards proof of liquidity: Checking, savings, money market accounts, certificate of deposit (CD), stocks, bonds, and mutual funds.
Management of the property is up to the investor. If helpful, Getaway can connect you with local property manager partners who will take care of the day-to-day operations of the property.
Typical fees include: origination, underwriting and interest.
At Getaway, we offer our investors flexibility when it comes to selling. Investors can choose to sell the property at any time, subject to repaying our loan.
Real estate appreciation is typically most effective over a long-term horizon when the property is held. Real estate values can fluctuate in the short term, and it may take time for the property to appreciate in value. Additionally, selling a property before it has been held for a significant period may result in capital gains taxes and other transaction costs that can impact the profitability of the investment. As such, we generally recommend that investors hold their properties for at least a few years to allow for potential appreciation and to maximize the returns on their investment. Ultimately, the decision to sell a property should be based on the individual investor's goals, financial situation, and market conditions at the time.
No, rent is not guaranteed. We finance properties that have a projected cash flow that will cover the debt service and operating costs of the property, ensuring that the investment is sustainable in the long term. However, it is important to note that investing in real estate, like any investment, carries inherent risks and we cannot guarantee rent or profits. Factors such as changes in the local real estate market, unexpected maintenance or repair costs, and fluctuations in interest rates can all impact the profitability of an investment.
There are credit requirements but no income requirements. Getaway requirements include:
- Minimum FICO of 720+; no foreclosures or bankruptcies
- Liquidity of 25% of the purchase price + 6 months of reserves (PITI)
- Ownership of investment real estate within the last 3 years
- Purchase of property through entity (ex. LLC)
- Utilize Getaway in-house real estate brokerage for the transaction