Fix And Flips In Massachusetts On The Rise
When you’re looking for an area invest in real estate and maximize fix and flip profits, you want to make sure the local housing market is in a good state. This includes making sure that days on market for homes are low, but profit margins from house sales are high. Massachusetts Association of Realtors announced in 2019 that median sale prices for homes grew 3% in from the previous year and is on track to continue rising. According to Flip Market, Plymouth county and Middlesex county are top choices for fix and flips in Massachusetts, boasting a 48% and 49% profit margin, respectively. Data pulled from Redfin Data Center shows that the average median days on market in Massachusetts was only 29 days in 2019, hitting as low as 14 days in the month of June!
Best of all, the average sale-to-list ratio for Massachusetts is 99%, meaning sellers are receiving 99% of their initial asking price. Receiving almost entirety of asking price and flipping the house quickly is how real estate investors grow their wealth fast, moving on to their next successful fix and flip. Asset Based Lending specializes on closing deals quickly and providing funds ASAP, letting our borrowers secure deals in a competitive real estate market. Contact us today to see why ABL has the best fix and flip loans MA has to offer.
Why Investors Prefer Hard Money Lenders For Fix And Flip Loans In MA
With so many different loan options available for fix and flips, also known as rehab and sell, investors must find the type of loan that fits their project best. Some investors may want to work with a bank, but conventional mortgages from a financial institution tend to involve lots of strict criteria and take a long time to close. This makes it a poor choice for fix and flip projects, as a deal could slip through your fingers or you could be outright denied the loan. Other investors may choose to work with private money lenders due to their flexibility, but traditional private money loans don’t offer the same level of reliability and security as a financial institution.
This is where real estate investors start to prefer hard money loans for fix and flips. Hard money loans from a reputable hard money lender offer the reliability of a financial institution with the flexibility of a private money loan. Asset Based Lending is the premier Massachusetts hard money lender, offering fast deal closings with flexible underwriting that allow us to help borrowers of all experience levels. Our streamlined loan process makes sure your never miss a deal, letting you secure property in a competitive market and preform a successful fix and flip. If you’re ready to be approved for your next successful fix and flip loan, contact ABL today.
Asset Based Lending Is The Best Massachusetts Hard Money Lender
By this point, you’ve realized that a hard money loan for fix and flip is your best choice, and Asset Based Lending is here to help. Our team of experts are ready to discuss your project and tailor a loan to specifically match your project, but every ABL loan includes:
- Preapproval within 24 hours of initial prequalification
- Closing within 10 days on average
- Flexible loans sizes from $75,000 to $3-4 million
- No prepayment penalties
- Lightning-fast draw turnaround
- Direct access to lender
No matter your experience level, ABL will offer you the highest quality service for the entire duration of your loan process. If you’re ready to begin your next successful fix and flip project, contact Asset Based Lending to be approved for the most trusted MA fix and flip loans available.