CLOSE IN 48 HOURS OR LESS! READY TO GET STARTED ON YOUR NEXT DEAL IN FLORIDA?
A borrower came to us with two days to close because her previous lender could not close because of an appraisal issue. We immediately underwrote the deal over the phone and ordered the BPO. With the title already back, we were able to close and fund this deal 48 hours from our first phone call.
|Location – Clearwater, FL|
|Loan Amount – $220,000|
|Purchase Price – $275,000|
|Loan Type – Purchase|
|Term – 12 Months – 17 years (Borrower Option)|
|Rehab Amount – $30,000|
|Actual Retail Value – $395,000|
|Profit – $75,000|
Florida’s population has grown by more than 2.7 million since 2010 and the state expects to add 845 new residents per day through 2025. Simply put, there is a continuous market for which to invest and market real estate for investment, sale, or rent.
Favorable Economic Conditions
Florida pro-business climate attracts a diverse group of people from around the globe to invest in real estate across the state, whether you are a foreign national living abroad or an investor from outside of the Sunshine State. Additionally, the unemployment rate is just 4.6% and residents enjoy the benefits of no state-level income tax.
Strong Renters’ Market
Being in a tourism-focused state, there are plentiful opportunity for investors to focus their investment strategy on rentals – whether seasonal, short-term, or long term. Metro areas surrounding DisneyWorld, for instance, are expanding at record pace to accommodate a wide spectrum of new tenants.
Florida is keeping up with the rest of the US, being one of the hottest real estate markets in the country. Whatever the overall climate in real estate may be, it tends to be amplified in Florida. When the market is strong in the US, it is on fire in Florida. When the market was down during the Great Recession, values were far worse and volatile in Florida. Hence, with inflation on the rise and interest rates going to unknown territories, it is important for investors investing in Florida to properly hedge against any potential market fluctuations that could be forthcoming.
"I am so thankful that there’s a lender like EquityMax out there. Family run, fully transparent, and competitive with their terms. No wonder they’ve been around forever!"
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 is active around the state, attending a variety of REIAs in FL, including CFRI, GOREIA, TampaREIA and Yellowbird Connect in Jacksonville.
EquityMax thinks the smaller markets around the state are prime for investing. Towns like Lakeland, Winter Haven, Melbourne are potentially less exposed to volatility that larger metro areas.
EquityMax never orders appraisals. We order BPO (Broker Price Opinion) reports from realtors local to the subject property. We find the valuation more accurate, and it’s also quicker and cheaper.
Yes, we do, even though other lenders do not. EquityMax is fine with additional funds coming in “behind” our loan, or in second position, in the form of rehab funding or down payment funding that the borrower may need as part of his or her transaction.