CLOSE IN 48 HOURS OR LESS! READY TO GET STARTED ON YOUR NEXT DEAL IN CONNECTICUT?
A seasoned borrower investing across multiple states approached us about refi-ing a cash-flowing investment property. Without an appraisal and minimal headaches, we closed the borrower at 65% “cash-out” within 2 weeks of his initial inquiry.
CASH-OUT REFI |
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Location – Thompson, CT |
Loan Amount – $220,000 |
Purchase Price – N/A |
Loan Type – Cash-Out Refi |
Term – 12 Months – 17 years (Borrower Option) |
Rehab Amount – N/A |
Actual Retail Value – $340,000 |
Profit – N/A |
Affordability
While prices have increased dramatically since the pandemic, real estate in Connecticut is still relatively affordable compared to its Tri-State counterpart, New York.
Declining Foreclosure Rates
Even with rising prices and interest rates, foreclosure filings in CT are down about 69.5% over the first six months of 2022 from the same point in the previous year.
Long-Term Rental Properties
Historically low inventory levels are creating more competition for properties, with many borrowers flocking to long-term rental “buy and holds” as opposed to fix and flip projects that are carrying thinner margins.
The Connecticut real estate market has typically trailed their national counterparts for the majority of the current recovery. However, real estate in Connecticut is on the rise and regional optimism has boosted and subsequently maintained steady market activity. The momentum realized during the Pandemic should continue throughout 2022 and help real estate in The Nutmeg State get one step closer to the rest of the United States.
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 actively lends in the Tri-State Area in the Northeast, financing across Connecticut, as well as New Jersey and New York.
The great idea about lending in Connecticut is the diverse types of assets that we can lend on, from single family homes, to homes on acreage, to more metro investment opportunities.
We find that more suburban areas bordering more affluent towns (i.e. Greenwich) can provide near-identical returns without the home prices of the neighboring geography.
EquityMax lends on mainly residential real estate – inclusive of single family homes, condos, and townhomes. In a state like Connecticut, we focus on more non-qualifying investment opportunities, such as vacant land, manufactured homes, and rural property home loans.