Ohio Fix and Flip Loans
The Number One Ohio Fix And Flip Loans
Asset Based Lending offers the fastest and most reliable fix and flip loans Ohio has to offer. These 12-month interest-only bridge loans help real estate investors purchase and rehab the property before flipping it for a profit and moving on to their next project. Whether you’re a first-time investor or an experienced pro looking for additional capital, ABL is ready to finance your next success.
These fix and flip loans are designed for real estate investors that need:
- Quick closing – as fast as 2 days with appropriate paperwork
- Flexible underwriting – multiple leverage & rate options
- No prepayment penalties – never punished for a fast flip
- Full service – a one-stop shop for all your lending needs
|Experience||Credit Score Minimum||Interest Rate||Points||Advance Rate On Purchase||Advance Rate On Rehab||ARV||Property Types||Pre-Pay Penalty||Extensions||Blanket Loans||Loan Size||Loan Terms|
|Any||660||10%-12%||0-2%||Up to 80%||100%||Up to 70%||Single Family, Multi Family, Mixed Use||No||Available||Yes||$75K - $2.5M||12 Months|
Same Day Pre-Approval. Up To 95% LTC.
Ohio Real Estate Markets Working For Fix And Flips
Ohio is one of many states experiencing large growth in its real estate markets, which is benefitting fix and flip investors. The average revenue for Ohio fix and flips reached $76,690 during 2021. As of May 2022, the average home sale price for Ohio reached $221,200 which represents a 10% increase year over year. Homes are only spending an average of 27 days on market, which is seven less days than the previous year’s average and highlights the fast moving nature of the current market. The state’s population of nearly 12 million residents is growing at a steady rate, with metro areas such as Cleveland and Columbus boasting much of the population growth.
Currently, only a two-month supply of homes available throughout the state. For context, a healthy market typically has a minimum three-month supply of homes available, meaning the state is struggling to meet buyer demand. The top Ohio metro areas with the fastest growing sale prices are Mayfield Heights, Niles, Springboro, and Perrysburg. These areas also among the most competitive throughout the state, which means investors need to work with a lender in order to secure each opportunity. Thankfully, Asset Based Lending is a speedy and reliable hard money lender, so our borrowers never miss out on an opportunity due to financing.
How Ohio Investors Finance Their Fix And Flips
There’s no shortage of ways for investors to finance their acquisition and rehab projects, however not all financing is created equal. For example, there’s no bank or traditional financial institution that is going to close as quickly as a fix and flip investor needs. Plus, banks don’t like to finance full get renovations or any type of home rehab that has a higher level of risk. There’s also private money lenders that offer loans for fix and flips and can close deals quickly, but there’s a lack of security and reliability that comes with it.
Hard money loans are the best choice for real estate investors that are looking for fast and reliable funding for their fix and flips. A hard money lender combines the best of both worlds, utilizing the speed and flexibility of a private money lender with the security and guarantee of a financial institution. The quick closing timeline and high leverage options benefit fix and flip investors far more than other lending options. If you’re a real estate investor looking to finance your Ohio fix and flips, then contact us today.
Why Ohio Investors Trust ABL Fix And Flips Loans
As investors ourselves, Asset Based Lending understands the needs of real estate investors that focus on fix and flips. Our team aims to help you scale your investment business with fast and reliable bridge financing that allows you to purchase and renovate properties with a quick timeline. Our flip loans range from $75K – $2.5M and come with a quick draw turnaround so you never experience a financial delay. We offer flexible underwriting to deliver a variety of flip loans that can match your specific project, whether you’re looking for zero points, lower interest rates, maximum leverage, or something else.
With the real estate markets continuing to grow quickly, now is the time for real estate investors to focus on OH fix and flips. By partnering with Asset Based Lending, you’re experiencing a transparent lending process with no prepayment penalties or hidden fees, allowing you peace of mind along with keeping more of your money. Our team has received hundreds of five-star reviews across our more than $1 Billion in loan originations, highlighting why real estate investors choose ABL for their project funding. Contact us today to be approved for your OH fix and flip loan.