CLOSE IN 48 HOURS OR LESS! READY TO GET STARTED ON YOUR NEXT DEAL IN MARYLAND?
An investor was deeded a row-house property “subject-to-mortgage,” making the mortgage payments while renting the property out for positive monthly cash flow. With no seasoning involved, the borrower refi-ed, with cash out, to get some of her invested funds back.
Residential Property |
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Location – Baltimore, MD |
Loan Amount – $15,000 |
Purchase Price – Quit Claim Deed |
Loan Type – Cash-Out REFI |
Term – 12 Months – 17 years (Borrower Option) |
Rehab Amount – N/A |
Actual Retail Value – $75,000 |
Profit – $500 Net Positive Cash Flow |
Home Prices Continue To Increase
Home values have appreciated for 10 straight years in Maryland and are now at all-time highs. Even so, optimism still exists that prices will not drop, as residents are still in buying mode across the state.
Mortgage Rate Increases
Mortgage rates are now over five percent, marking an increase of 2.07% over the past year. With more rate hikes expected, home prices could be even less affordable than they already are. As such, buyers will be forced to buy lesser priced homes, since their mortgage payments will be higher.
Low Inventory
Maryland has less than one full month (0.6) of available inventory and simply doesn’t have enough available homes to keep up with demand of buyers. New builds are being constructed to help offset the lesser demand that exists for already built rehab investment projects.
The accelerated rate of appreciation in Maryland shouldn’t ward off investors from making deals in the state. In fact, EquityMax says take advantage while you can! Flips and rehabs still show promising profit potential and we encourage investors to watch the real estate market with a close eye so they can quickly jump on opportunities that meet their strategy. Additionally, the current conditions of the market have also opened up long-term rental properties as a solid way to offset today’s high prices with impressive rental rates.
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
Besides our borrowers, the best part of Maryland, in our opinion, are the crab cakes!
EquityMax recommends shopping across various suppliers, contractors, and tradesmen to get the best bang for your buck.
Whenever a property is littered with code violations or onerous liens, EquityMax strongly advises against investing in a property like this.
Whatever deal shows profit potential. Whether it’s a residential home in a metro area or a rural property with multiple structures on the land, if the property has profit potential, we’ll find a way to lend on it!