Virginia Rental Market Statistics
Virginia has spent the last few years becoming one of the most stable rental property markets in the country. With the mix of urban, suburban, and rural living options, Virginia offers affordable entry for renters and real estate investors alike. According to Neighborhood Scout, over 35% of the population rents in the state, so finding renters to fill property and maintain monthly income generation is simple enough. Low inventory continues to drive prices upwards- August of 2020 saw a 27% increase in northern Virginia’s real estate market dollar volume, showing a market that’s heating up and rewarding investors that can secure a good deal quickly.
Virginia Beach is being praised as one of the most predictable and stable property market investments in the country, letting investors truly benefit from growing their rental portfolio in the area. Being the largest city in the state with an unemployment rate of only 3.3%, lower than the national average brings in a lot of potential renters, making it a steady option for investors due to a constant supply of renters being available. This state is developing a highly competitive real estate market, especially with rental property, so you need a lender that’s ready to work as hard as you. Asset Based Lending offers the fastest and most reliable loans in the entire state, allowing us to help investors secure deals and grow their rental portfolio. If you’re ready to acquire Virginia rental property or refinance rental property, then contact us today.
Rental Loans For The BRRRR Method In Virginia
If you’re looking to grow your rental portfolio quickly and invest in a long-term financial future, then you’ve probably heard of the BRRRR method. It’s a simple acronym that stands for buy, rehab, rent, refinance, repeat. Some investors just want to own one or two rental properties to generate a small amount of monthly income, but those that want to make their living off the monthly income need to put in extra time and energy that comes with extra financial rewards. By buying the property and renovating it, you increase its property value and therefore raise the potential rent you can bring in from the asset. Then, by refinancing the property, you can use the newly available funds to purchase your next rental property and repeat the process, growing your rental portfolio faster and forcing a quicker turnaround to become cashflow positive.
Asset Based Lending are ready to help serious investors use the BRRRR strategy to grow their rental portfolio and reach their financial goals. Whether you need a rental loan with the maximum LTV, lowest possible rates, no income verification loan, or something else, our flexible underwriting can tailor a loan to meet your specific project. If you’re wondering how to get a loan for rental property, Asset Based Lending is ready to talk. Contact us today to experience the most reliable Virginia rental loans available.
Why Investors Choose Asset Based Lending For Rental Loans
Asset Based Lending understands the needs of real estate investors: they need reliable financing, and they need it fast to edge out the competition and secure their next successful investment. ABL has designed our rental loan program to be as quick and simple as possible, handing your loan from start to finish and closing your deal in under 30 days. Our flexible loan options allow borrowers to plan their lending around their financial goals, using our funding to grow their real estate business.
ABL brought the term rental loans in-house to ensure our borrowers receive a five-star experience from beginning to end of their loan cycle. With hundreds of verified five-star reviews and more than half of our borrowers being repeat borrowers, real estate investors know that Asset Based Lending is the best choice for rental loans. If you’re a BRRRR investor looking to purchase your next buy and hold property, contact us today.