Highlighting The Numbers For Virginia Fix And Flips
Due to its proximity to the Washington DC metro area and variety of living options like urban, suburban, and rural, Virginia attracts home buyers from around the country. Based on average days the house spent on market, average gross profit, and average ROI, Virginia ranked as the seventh best state for fix and flips in 2018. Boasting an average profit of over $91,000 and over 99% ROI, this state rewards real estate investors that know how to spot a good deal and work quickly with lenders to secure them. Nearly 65% of the state are homeowners and lack of housing inventory is currently driving average home prices up, making it a competitive market for fix and flips.
Asset Based Lending is proud to offer our fix and flip loans to qualified investors. With competitive loan rates and flexible underwriting that lets us tailor loans to your exact needs, ABL is the best choice for funding your fix and flip. If you’re looking for the fastest and most reliable fix and flip loans Virginia has to offer, contact us today.
Why Investors Pick Hard Money Loans For Real Estate Investments
More real estate investors are choosing hard money loans for real estate investments than ever before, and there’s a few reasons behind that. Conventional mortgages have very restrictive criteria and don’t offer the same level of flexibility as hard money loans, making them difficult for fix and flips and other real estate investments. Some investors turn to private money loans due to their direct lending and relaxed loan criteria, but the problem with private money lenders is their lack of hard commitment and potential to not follow through when funding is needed most.
Hard money lenders offer the same level of security and reliability as traditional financial institutions while providing the speed and flexibility of a private money lender. By having full control of their own funds, a hard money lender has the ability to assess each borrower on the merit of their investment and determine loan viability based on the individual project. If the hard money fix and flip loan is coming from ABL, the loan is handled completely in-house which allows fast deal closings and professional draw management that funds your project on your schedule. When it comes to all types of real estate investments, but especially fix and flips, the best choice are ABL hard money loans.
Choosing Asset Based Lending For Your Fix And Flip Loans
ABL is excited to have the opportunity to help Virginia real estate investors achieve their fix and flip goals. As the premier hard money lender in the area, with over a decade of experience and hundreds of millions of dollars funded, ABL’s fix and flip loans provide the reliability of a conventional mortgage with the speed and flexibility of a private money loan. ABL works with both new and seasoned real estate investors and is able to tailor fix and flip loan programs to meet the individual needs of the borrower and specific project. With flexible loan sizes ranging from $75K up to $2.5M, no prepayment penalties, and direct access to your lender, we boast the most investor-friendly real estate financing available.