Miami Hard Money Lenders
Hard Money Loans For Miami Real Estate Investors
Asset Based Lending are the premier hard money lender for fix and flips, new construction, and rental loans in the Miami area. We provide funding for real estate investments and specialize in closing deals quickly, approving loans as fast as 24 hours and finalizing deals in 10 days or less. With flexible underwriting and professional draw management, our team can craft a loan to match your specific project and provide initial funding as quickly as three days.
ABL has a decade of proven success in Miami-Dade County and the rest of Florida, with hundreds of verified five-star reviews and half of our borrowers returning to us for repeat loans. We pride ourselves on the local relationships we built with the best appraisers, attorneys, and title agents to deliver high-quality service from start to finish. ABL promises the most reliable and streamlined hard money loans in Miami, so contact us today to begin your approval process.
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Close In 10 Days Or Less With Miami’s Best Hard Money Lender
The Growing Fix and Flip Market In Miami
As of January 2021, the competitive fix and flip market has received even more attention from investors and home buyers alike. With the tens of thousands of people leaving areas like New York City and Los Angeles, cities like Austin and Miami are seeing large migrations of new permanent residents looking to own property. Due to high demand and low housing inventory, this hot seller’s market is perfect for a real estate investor that can snag a distressed property and transform it into a beautiful move-in ready home.
Approximately 1538 homes were sold in Miami throughout the month, marking a 16% increase from the previous year. The average sale price for homes was $374,000 which is a 15% increase from 2020 and indicates healthy, consistent market growth rather than a flash in the pan. On average homes are remaining on the market for 61 days, but hot homes can sell as quickly as 22 days. Most homes are selling for 98% of total asking price, which marks a 2% increase from the previous year and represents a 5-year-high for sale price to listing price ratio. For real estate investors that are ready to see a high ROI, Miami fix and flips are looking like an excellent opportunity.
Taking Advantage Of The Miami New Construction Market
Due to the record-low housing inventory occurring in Miami and the rest of Florida, new construction has seen a major uptick and looks to continue rising for the foreseeable future. As of January 2021, the average home sale price per square foot reached $252 per square foot, marking a 13% increase from the previous year. Savvy builders and contractors can find pockets in desirable neighborhoods and use their skills to take advantage of the low inventory with our hard money loans for new construction.
The three biggest factors in Miami listings receiving more attention have been stainless steel appliances, family rooms, and backyards. Having one or more of these attributes has increased online views and price bids compared to local properties that are lacking these features. As an investor and builder, focusing your attention on the market demand can help you design a home that is guaranteed to sell and receive the highest possible offers. ABL can help experienced investors and builders with new construction financing, so contact us today to qualify for our new construction loans in Miami.
Miami Rental Property On The Rise
Even though most new Miami residents are looking to own their home, many of these people want to sample the city through renting. The city is currently boasting the lowest vacancy rate of South Florida, with an emphasis on shortened leases with higher monthly rent payments. Real estate investors looking to start or expand their rental portfolio in this area can use our hard money rental loans to fund their property purchase and begin to generate monthly income.
One of the biggest real estate investment trends is the BRRRR strategy, which stands for buy, renovate, rent, refinance, repeat. The plan is simple, with the investor purchasing a rental property and focusing on renovating its problem areas to increase its market value and charge a higher rent. Then by renting it out and refinancing the loan, the investor can start generating passive income while using the cash from the refinance to allow them to purchase other rental properties, repeating the process, and growing their rental portfolio. This city and Florida in general are top choices for investors looking to utilize the BRRRR method. When you are ready to expand your rental portfolio using our Miami rental loans, give us a call.