Why Investors Are Looking To Maryland Rental Property
Experienced real estate investors know that doing the proper research is how you find the best deals and long-term success, focusing on areas that feature a prosperous economy and demand for housing. Maryland has seen an economic upturn thanks to companies like Amazon setting up fulfillment centers, resulting in an unemployment rate that’s lower than the national average. Additionally, Maryland has seen a surge in their renter population, with over one third of the state renting instead of owning property, making it a good long-term investment for rental property.
According to Rent Café, in 2019 Prince George county experienced a 4% YoY growth in rent prices with over one third of the population choosing to rent instead of own. Elkton of Cecil county also saw a 4% YoY growth and similar renter population, with a lower barrier to entry due to their lower property prices. Baltimore county has grown by 3% YoY but is highlighted by over half of the population choosing to rent instead of own, meaning they have over 330,000 potential tenants in a growing market!
Being able to guarantee tenants is important for any rental property, and these numbers are continuing to rise which potentially makes Maryland rental property a smart long-term investment. Contact us today to expand your rental portfolio with the most reliable rental loans MD has to offer.
Using The BRRRR Method In Maryland
Real estate investors look for different things depending on their financial goals: some people prefer to make a quick buck with a fix and flip, but others prefer to build long term wealth through a rental portfolio and refinancing strategy. It’s a strategy that takes more time to become cash flow positive and requires careful planning, but pays dividends in the end. This strategy, known as the BRRRR strategy, is used to rapidly expand your rental portfolio and refinance the property to fund your next rental property.
BRRRR stands for buy, rehab, rent, refinance, repeat. It’s a simple process- you purchase a property and renovate it to increase its value before renting it out for a premium. With this new source of monthly income coming in to help recoup losses and become cash flow positive, you refinance the rental property and use the available funds to purchase your next rental property, growing your rental portfolio faster and increasing your monthly income. The BRRRR method works best in areas with low median property prices and high rental demand, which matches Maryland’s current real estate market perfectly.
With so many rental loan options available, you need a lender that understands the local real estate market and provides reliable advice from start to finish. Asset Based Lending are experts in the areas we lend in, allowing us to provide the highest quality service to our borrowers and help them reach their financial goals. If you’re looking for to acquire rental property in Maryland or refinance rental property, contact ABL today.
Choosing Asset Based Lending For Your Maryland Rental Loans
Each avenue of real estate investment is different, so even experienced investors may wonder how to get a loan for rental property. Asset Based Lending makes the process as simple and streamlined as possible, with fast closings and quick draw turnarounds. We provide rental property loans to investors that are serious about growing their rental portfolio. ABL tailors every loan to match the specific project, but we guarantee the following:
- Fast purchase and rehab loan approval- as fast as 24 hours with funding in 10 days or less
- Competitive rental loan rates- between 3.75% and 8%
- Loan options such as no doc, lowest rate, highest LTV, etc.
- Flexible underwriting
- Fast draw turnaround
Asset Based Lending is dedicated to helping you grow your Maryland rental portfolio and achieve your financial goals through flexible rental property financing. Contact us today to be approved for the most reliable rental loans in MD.