Myrtle Beach Hard Money Loans
The Fastest Hard Money Lender in Myrtle Beach
Asset Based Lending offers hard money loans for real estate investors in Myrtle Beach and the rest of South Carolina. We offer a variety of loans including loans for rental property, fix and flips, new construction, and cash out refinancing. Our team specializes in closing deals quickly so you never miss an opportunity along with flexible underwriting that tailors loans to match your specific project and exit strategy. We approve loans as fast as 24 hours and work with investors of all experience levels, whether you’re working on your first fix and flip in Withers Heights or expanding your rental portfolio in Yaupon Circle.
ABL is a local hard money lender that works closely with Myrtle Beach real estate investors, financing their investments with fast and reliable capital to help scale their real estate business. As investors ourselves, we try to provide the most flexible loan options including maximum leverage, lowest interest rate, zero points, or something else that fits your investment strategy. We’ve financed over $1 Billion across thousands of loans and boast hundreds of five-star reviews detailing how simple and easy our service is. If you’re looking for hard money loans in Horry County, then contact us today.
Offering The Most Reliable Myrtle Beach Hard Money Loans
Myrtle Beach Fix and Flips On The Rise
With large portions of the population shifting from the northeast and west coast to more affordable areas like South Carolina, real estate markets like Myrtle Beach have become huge winners. As of August 2021, the average home sale price reached $249,900 which marks a 16% increase from the previous year. Homes are spending an average of 59 days on market, which is 46% less time than the previous year and highlights how active the current market is. These stats are important for fix and flip investors to understand, as how quickly they can exit their project and how much they can sell it for will help determine their profit margins. However, these stats also show how competitive the current market is, so investors need to act fast and have reliable capital that can ensure their project can start on time and never experience delays.
Asset Based Lending offers fix and flip loans to Myrtle Beach investors that are designed to close fast and provide funds in a reliable time frame, allowing you to use our proof of funds letter to secure investment opportunities in an active market. These 12-month interest-only bridge loans are approved as quickly as 24 hours and close in 10 days or less, with ABL financing up to 90% of purchase price and 100% of renovation costs. If you’re looking for fix and flip loans in Myrtle Beach, then contact us today.
Myrtle Beach New Construction Filling Low Inventory
Residential inventory is at an all-time low across the country while demand continues to rise, meaning new construction projects have become even more lucrative investments than before. As of August 2021 the average home sells for $168 per square foot, which is a nearly 25% increase from the previous year. Builders and developers have a competitive advantage in the market by following trends that home buyers in the area are looking for. For example, homes with offices and outdoor decks are receiving more views on their listings and are typically receiving offers above asking price more often than homes lacking these features. Building to meet market demand is a great way to ensure your project sells in a timely manner and for maximum value.
Experienced builders and developers are in good positions to use our hard money new construction loans to sell projects in the hot seller’s market. Investors use our hard money loans to finance 100% of their construction costs and up to 90% of the land value, offering competitive interest rates and flexible underwriting to match your specific project. Our new construction loans offer experienced builders and developers a fast and reliable way to finance their project and scale their real estate business. If you’re an experienced builder that wants to be approved for Myrtle Beach new construction loans, then contact us today.
Myrtle Beach Rental Property Provides Significant ROI
While many cities in South Carolina received boosts to their rental markets, none can compare to the desirability of Myrtle Beach. This popular beach town already had a strong rental market but its currently performing better than ever for investors. As of August 2021, the average monthly rent for the city reached $1,356 which marks a 25% increase year over year. Over 44% of the population rents instead of owns, meaning this popular beach city has a constant source of potential tenants that is growing every day. Investors looking to begin or grow their rental portfolio in South Carolina should consider Myrtle Beach as their next investment opportunity for a consistent source of passive monthly income.
These stats look great for one of the most popular investment strategies for real estate investors: the BRRRR strategy. The acronym stands for buy, rehab, rent, refinance, and repeat. The process is easy to understand: the investor purchases a property and renovates it to increase its market value and charge a premium rent. After a tenant is found and the asset begins producing passive income, the investor refinances the loan and uses the newly acquired capital to purchase their next rental property to repeat the process. Over time, the BRRRR investor grows their rental portfolio and eventually has multiple sources of passive monthly income, setting themselves up for long-term financial success. If you’re an investor that wants to utilize the BRRRR method using our Myrtle Beach rental loans, then contact us today.