Why Real Estate Investors Are Choosing Pennsylvania
With 44 of the top 1000 public and private companies calling Pennsylvania home, along with top schools like Penn State and Haverford, the state’s economy continues to boom while attracting people from all over the country. Specifically, people are looking to rent so they maintain a high level of flexibility in their living situations. For example- according to Mashvisor, as of 2019 49% of the population living in the greater Philadelphia area are renting their home and return a higher than national average cap rate to the property’s owner. With house inventory remaining low but housing demand continuing to rise, these numbers show that this state is a strong market for real estate investors to grow their rental portfolio.
The ABL crew are dedicated to helping you grow your real estate business in the tristate area, through flexible rental loans and reliable property refinancing. With over a decade of success and the best quality service throughout the entire loan process, Asset Based Lending is providing serious real estate investors with the best rental loans Pennsylvania has.
Why Should You Rent Or Refinance Your Pennsylvania Property
Some real estate investors want to make a quick buck through a fix and flip project, but others are looking to build their long-term wealth. By using rental property to generate monthly income or refinancing property to gain immediate funds, investors can more quickly finance their next project and expand their real estate business faster. This kind of long-term investing strategy is becoming much more popular and is referred to as the BRRRR method. BRRRR stands for buy, rehab, rent, refinance, repeat. The steps are pretty clear: you purchase the property with a fix and flip loan, rehab it to increase its value and rent it out to recoup money and gain profit over time, refinance the property and use those new funds to acquire your next rental. The payoff is building wealth over time through rent collection and property acquisition, turning your rental portfolio into a money-making rental empire. The trade-off is a slower start to becoming cash flow positive and not everyone wanting to be involved in the rental space. However, if you have the tenacity and the patience required to make the BRRRR strategy a winning one, then the tristate area is currently a hot market to do so.
Getting a loan for rental property can be tricky, but Asset Based Lending makes it as simple as possible. We manage your short-term rental loan from start to finish and use the same documentation to pass your long-term loan to our trusted mortgage partner, saving you time and energy. ABL has been funding real estate investors for over a decade, and our team is committed to helping you reach your financial goals. If you’re ready to start utilizing the BRRRR method, contact us today.
Choosing Asset Based Lending For Your PA Rental Loans
If you’re wondering how to get a loan for rental property, you’ve come to the right place. Many investors are wanting to start or grow their rental portfolio, and the need a lender that understands the industry and can smoothly manage the short-term and long-term components. Asset Based Lending and its long-term lending partner has some of the fastest loan approval times and most flexible underwriting for Pennsylvania rental loans. While every rental property loan is tailored specifically to your project, ABL and our lending partner always offer 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%
- Flexible loan programs for rate, LTV, income verification
- Flexible underwriting
- Fast draw turnaround
When it comes to rental loan options, Asset Based Lending is your top choice. If you’re ready to be approved for your next rental loan, contact us now.