CLOSE IN 48 HOURS OR LESS! READY TO GET STARTED ON YOUR NEXT DEAL IN MASSACHUSETTS?
A New England-area investor found a great fix and flip opportunity in Saugus, MA. He had previously dealt with the headaches of the lender draw approval process, and did not want to deal with that process again. Already having the rehab funds, the borrower utilized EquityMax for a purchase loan, and ultimately sold the home for a sizable profit.
|FIX AND FLIP|
|Location – Saugus, MA|
|Loan Amount – $208,000|
|Purchase Price – N/A|
|Loan Type – Purchase|
|Term – 12 Months – 17 years (Borrower Option)|
|Rehab Amount – $45,000|
|Actual Retail Value – $375,000|
|Profit – $75,000|
Nearly 80% of Massachusetts residents live near the Greater Boston Area, making it one of the most coveted places in the state. Sure, one can find opportunities in Cambridge, Brookline, Newton, etc…but that is where everyone is going to likely invest. As such, you will note that a majority of investment deals occur in this greater metro region. However, that does not mean that there are less opportunities in other parts of New England. As seen in this deal, this investor took the “Walmart strategy,” that being, go ????
Rising Home Values
The median home value in Massachusetts is considerably higher than the U.S. average. In addition, home prices are expected to rise by more than 7% in the next year.
High Property Taxes
Massachusetts ranks in the top ten nationally for highest property taxes. As a result, it’s made homeownership less desirable and increased rent prices.
High Foreclosure Rates
Over 7% of Massachusetts homeowners are behind on their mortgage payments. Therefore, the abundance of foreclosed properties has provided numerous investment opportunities for investors to take advantage of.
“I am a frequent investor, and had a great opportunity to fix and flip a SFH in Leeds. EquityMax offered quick financing without hassle, and I hope to use them on my next project.”
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
Of all the states in the greater New England region, Maine has served as the largest market where EquityMax has financed its many investors.
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.
EquityMax not only lends in the greater metro areas of Boston, but also lends in smaller towns, rural areas, and lesser known subdivisions and suburbs across the state.
One great resource is the BostonREIA, whose members include investors, realtors, brokers, and everyone in between. They meet monthly (in person and online) and are great for finding new investment opportunities.
We gladly lend outside of Massachusetts in surrounding states. Within the region, EquityMax also lends in Maine, New Hampshire, and Rhode Island. We do not lend in Vermont.