CLOSE IN 48 HOURS OR LESS! READY TO GET STARTED ON YOUR NEXT DEAL IN OKLAHOMA?
An experienced Cannabis entrepreneur approached us about a loan on a piece of real estate as part of his operation. Being that the property was in a rural part of the state and entailed Cannabis operating, there were few loan options for him. EquityMax was approached, and we were ultimately able to offer him a competitive product and close within a reasonable time frame.
|Location – Mannford, OK|
|Loan Amount – $200,000|
|Purchase Price – $300,000|
|Loan Type – Purchase|
|Term – 12 Months – 17 years (Borrower Option)|
|Rehab Amount – $50,000|
|Actual Retail Value – $500,000|
|Profit – $200,000|
Home Values Increasing
Attractive and affordable homes have turned Oklahoma’s real estate market red hot with home values appreciating at a faster rate than the rest of the country over the last year. With a lack of inventory and pent-up demand, buyers are resorting to wholesalers and the MLS for retail-priced properties..
Interest Rate Hikes
Mortgage rates are on the rise with the Fed trying to fight inflation. You can expect buyers to get into the market quicker than ever before rates rise more. Refis requests should also see a huge spike in applications.
Tulsa Growing In Popularity
Many residents are migrating to Tulsa where the median home value of $136,967 is below the state average. This bodes well for first-time buyers who are seeking city living at a more affordable price point.
Oklahoma has followed behind the national housing market for quite some time and that has actually turned to its advantage as buyers are turning their focus to the state for affordable living situations, even though prices are rising at a higher clip than normal. Moreover, Oklahoma has historically been a high volume region for investors to achieve attractive profit margins on fix and flips projects, and while increasing labor and material costs has dampened that some, opportunities still present themselves throughout the state for investors. Additionally, long-term exit strategies, such as rental refis and cash outs, are growing in popularity as the market is heavily favoring landlords and short-term rentals.
“I finally found a reliable financing source for loans that very few lenders out there will fund…EquityMax is awesome!”
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 has recently expanded its loan programs to include all real estate collateralized by Cannabis-related real property.
EquityMax favors whatever a great deal is. We are finding deals in both metro and rural areas are equally favorable to lend in.
Given the market for inexpensive properties is as strong as ever, EquityMax finances deals for as little as a $15K loan amount.
If your credit is subpar, we will likely lend at a slightly lower LTV for the first deal. However, if the borrower pays on time, all subsequent deals will revert back to normal, more favorable pricing.