CLOSE IN 48 HOURS OR LESS! READY TO GET STARTED ON YOUR NEXT DEAL IN CALIFORNIA?
A very credit-worthy borrower approached us with a unique purchase loan on a condominium. While a fairly straight-forward unit, the condo restrictions and warranties prevented traditional lenders from financing. Given the strong comps and demand in the market for similar units, EquityMax was able to help fund a deal that no one else would.
|WHOLETALE FIX AND FLIP|
|Location – Burbank, CA|
|Loan Amount – $305,000|
|Purchase Price – $380,000|
|Loan Type – REFI|
|Term – 12 Months – 17 years (Borrower Option)|
|Rehab Amount – $20,000|
|Actual Retail Value – $495,000|
|Profit – $95,000|
In California, houses typically sell quickly with a median time on market of around 15 days. Hence, when our client approached us with a quick closing timeline, we knew this necessitated immediate due diligence and a “fast track” closing to ensure the borrower’s deal looked attractive to the seller. Sure enough, there were few hiccups in this deal, as we successfully closed in less than two weeks for our client, who in turn flipped his Burbank Condo for a sizable return on investment!
Low Property Taxes
While not the lowest in the country, California offers friendly property tax rates compared to surrounding states, which can help offset investors’ expenses and increase overall cash flow.
High Rental Demand
Jobs, great weather, fun entertainment, and tons of outdoor activities have vacationers visiting the Golden State at a high volume. As a result, rental rates are increasing consistently every year, with a surge in short-term rentals especially.
Increasing Home Values
While there has been a recent exodus from California, the state is still attractive for its lifestyle, culture, and job market. People buy homes where they want to live, and millions want to be in California. Therefore, home values continue to be on the rise.
“EquityMax has been a pleasure to work with as a private lender. As a title company, we need great lenders as much as they need great title companies. Cannot say enough how easy it was to work with them. I wish all lenders were this great!”
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
Before working at EquityMax full-time, Gregory Emmer started off his career in Los Angeles at UTA, a global film agency. This corporate experience instilled the hard-working values he asks of his team each and every day.
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.
Simply put, yes, EquityMax lends on AirBnB-type short-term rentals, which several lenders do not finance. We have actually seen that these types of high profit, short-terms leases are agreeable to what tend to be higher interest rate loans synonymous with hard money.
Both! EquityMax only lends its own family funds, making it a 100% private investment vehicle. Yet, as a nationwide lender, it has the scope right on par with the largest, institutional-backed hard money options.
LAREIC is a great opportunity to network in the Southern California region, as a means of finding new investment opportunities. Similar REIAs and investment clubs exist around the state, from San Diego up the PCH to San Francisco and the Bay Area.
Yes, EquityMax welcomes the opportunity to finance rural and more remote pieces of real estate. We just financed a piece of vacant land with a mobile home in Rio Vista, not too far from the state’s border with Oregon.