Connecticut Fix And Flips By The Numbers
Connecticut has been experiencing a surge in population, leading to an increase in housing demand and therefore housing prices. With its great public schooling, low unemployment rate, and convenient proximity to cultural centers, people are willing to pay top dollar to live in the area. According to Attom Data, the average profit from flipped houses in the state for 2018 was $98,000 and has remained on an upward trajectory. With that kind of substantial profit margin and property spending an average time of 116 days on market, this state is a good option for making money with fix and flip projects.
By working with a reliable lender that moves quickly, you can chain together successful fix and flips and make a pretty penny. Asset Based Lending closes deals fast and offers the most flexible loan criteria at competitive rates, allowing us to lend to both new and experienced real estate investors. ABL are committed to providing the best fix and flip loans CT can offer, so contact us today for loan approval.
Choosing Hard Money Fix And Flip Loans In Connecticut
Real estate investors have several options for funding their fix and flip project but choosing the right loan and lender can make a big difference. For example, most investors initially think about borrowing from the bank, but their loan process tends to be tedious with very restrictive criteria, which hurts new borrowers and can let a property deal slip through your fingers. When conventional loans don’t work, investors think about a private money lender, but private money loans don’t have the same guarantees and securities of a financial institution.
When it comes to fix and flip projects, hard money loans are often the most reliable solution. It combines the guaranteed funding and stability of conventional loan from a financial institution with the flexible criteria of a private money loan. Asset Based Lending has been offering hard money fix and flip loans for over a decade, with many repeat borrowers thanks to our high-quality service. ABL understands what borrowers need for a loan to be successful, and we offer that level of expertise to every investor we work with. Contact us today to be approved for your hard money loan.
Why Asset Based Lending Is The Best Hard Money Lender
If you’ve chosen to use hard money loans for your fix and flip project, then Asset Based Lending should be your first choice. We tailor every loan to meet your specific project and financial goals, and always work to provide the following:
- Preapproval within 24 hours of initial prequalification
- Closing within 10 days on average
- Flexible loans sizes from $75K – $2.5M
- No prepayment penalties
- Quick draw-turnaround
- Direct access to decision makers
Whether you’re an experienced investor or new to fix and flips, our team of experts are ready to show you why we provide the most reliable CT fix and flip loans.