CLOSE IN 48 HOURS OR LESS! READY TO GET STARTED ON YOUR NEXT DEAL IN ALABAMA?
An experienced investor from California was beginning to purchase homes in Alabama. He had found a great opportunity to fix and flip a property in Prattville and wanted to leverage his current cash balance to purchase the property. EquityMax provided an acquisition loan on the home which prevented the borrower from exhausting all his financial resources. Following a successful renovation of the home, the borrower successfully sold the home for a handsome profit.
|FIX AND FLIP|
|Location – Prattville, AL|
|Loan Amount – $57,000|
|Purchase Price – $71,000|
|Loan Type – Purchase|
|Term – 12 Months – 17 years (Borrower Option)|
|Rehab Amount – $30,000|
|Actual Retail Value – $150,000|
|Profit – $50,000|
In this particular case, our borrower (a first-time EquityMax client) had been working as a probate lead for months. Thankfully, over this time period, home values in Alabama had increased 9.4%. It was a great deal that required only minor touch up and no extensive renovation. Hence, when EquityMax closed this deal, the borrower quickly expedited his work on the property and sold the home to an end-user in 3 months. Not bad for 90 days’ work!
The Yellowhammer State is experiencing an increase in job opportunities, especially in the emerging Huntsville market.
A major allure to Alabama is its affordability. Most notably, the cost of living is well below the United States average.
A wide variety of industries are driving the Alabama economy including education, healthcare, aerospace, and banking.
EquityMax has been a great source of lending for me. I was so impressed with their customer service and speed in closing my first loan, I decided to use them again. Now, I’m working on my third deal with EquityMax!
High LTV / Low Rates / Flexible Term
Minimal Insurance Requirements
Zero Prepayment Penalty
ZERO Credit or Qualification Requirements
No Personal Guarantee Required
Free Comparable and Repair Analysis
Catering to Real Estate Wholesalers
1-3 Day Funding
Minimal Notice to Close
Invest through a Self-Directed IRA or Solo 401K
Net Proceeds from Investing are Tax-Deferred
No Personal Guarantee
EquityMax has attended various REIA meetings in and around the start of Alabama. The most recent investment club we have attended is the MC-REIA meeting in Huntsville, which meets on the first Thursday of every month.
EquityMax lends on any form of residential property, including single family homes, 1-4 multi-unit properties, condominiums & townhomes, and even small apartment complexes (20 units or less). We also lend on commercial property and industrial warehouses.
EquityMax can send a borrower a Proof of Funds within 5 minutes of receipt of an acceptable, three-score credit report. If a borrower does not have a recent report, he/she can request that Equitymax pull it. For instructions, please click here.
Yes. EquityMax has multiple borrowers with several active loans in our portfolio.
EquityMax does not require our borrowers to be a Corporation of LLC. We can originate loans to individuals, LLCs, Corporations, Land Trusts, and Self-Directed IRAs.
EquityMax not only lends to borrowers to purchase real estate, but often provides “cash out” refi loans to borrowers who may need extra capital to complete a project.
From what we have seen and experienced as lenders, Alabama’s price points for real estate offers a relatively low barrier for entry for new and experienced investors to purchase properties.
We find that other states have optimal markets for investing in condos, particularly states with more seasonal real estate (i.e. Florida). That doesn’t mean that markets catering to college students (i.e. Tuscaloosa) may be prime opportunities to rent condos as student housing.
EquityMax lends on real estate throughout the state of Alabama. We are not geographically limited as to where we will finance in the state.
EquityMax will lend in urban, suburban, rural, and agricultural areas of the state.
While EquityMax is not a licensed real estate broker in Alabama, we have partnered with several real estate companies, wholesalers, etc… that are actively selling real estate in your area. Feel free to reach out to us and we will connect you with various sellers of real estate throughout North Carolina.