CLOSE IN 48 HOURS OR LESS! READY TO GET STARTED ON YOUR NEXT DEAL IN DELAWARE?
A first-time investor team had an opportunity to buy a profitable deal from the family of the home’s most recent owner. Even though it was their first deal, EquityMax required no additional docs than a repeat borrower. They successfully fixed the property, and are currently cash-flowing, even with a hard money loan!
|Location – Laurel, DE|
|Loan Amount – $20,000|
|Purchase Price – $35,000|
|Loan Type – Purchase|
|Term – 12 Months – 17 years (Borrower Option)|
|Rehab Amount – $15,000|
|Actual Retail Value – $100,000|
|Profit – $40,000|
Increasing Home Prices
Forgot about any pandemic malaise. Since the beginning of COVID-19 the state’s median home value has increased approximately 20.9%, giving investors more cash to invest in the marketplace.
Demand for housing has increased significantly compared to historical industry data. With demand vigorously outpacing supply, at 1.2 months of available inventory, purchasing an economical deal has become more fleeting.
Increasing Rental Prices
With more people priced out of buying a home, they are turning to becoming tenants. Even with, with more renters competing for fewer units, landlords are driving up their pricing, asking for higher rents than ever before.
Overall, real estate is on the rise in Delaware with improving economic conditions across the board. While there has been a recent decline in distressed properties throughout the state, will increasing interest rates lead to more foreclosures…only time will tell. Overall, we’re bullish that the Blue Hen State will continue to grow as a place for investors to buy, sell, rent, and lease investment real estate.
"Being our first deal and with limited cash, we were looking at a small deal to invest in. EquityMax was one of the few lenders, if not the only one, that offers loans less than $50,000. It was great to have them be a partner in our first real estate deal."
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
Our BPO agent in Delaware covers the entire state for us…all the way from Wilmington to Dover to Lewes. Talk about covering a lot of ground!
Hardly is there a time to discriminate in where to invest! Each major market in the state, and even surrounding suburban and rural markets, are prime so long as the deal makes financial sense.
We think investors from more costly metro areas out of state (i.e. Washington DC) will flock to neighboring states as they seek out more cost-effective investment opportunities.
In a state like Delaware that has such a diverse composition of cities, towns, and villages, EquityMax lends in areas to suit a variety of investors. Rural homes on acreage, modular homes, or even metro area condos, EquityMax will finance those and everything in between.