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Investment firms move in on 'fix and flip'

The likes of Colony, Blackstone offering bridge loans to investors who buy, renovate and sell quickly

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Average gross profit for completed flips in Q1 was US$72,450, up from US$61,684 a year ago and the highest since 2011.

Washington

REAL estate buyers seeking money to renovate and flip US houses are getting help from some of the world's biggest investment firms.

Colony Capital Inc, Blackstone Group LP and Cerberus Capital Management are among the companies that have started making bridge loans to