CLOSE IN 48 HOURS OR LESS! READY TO GET STARTED ON YOUR NEXT DEAL IN PENNSYLVANIA?
A referral from a Tennessee Realtor came in for a seasoned investor looking to flip their next investment property. This was a short sale transaction that was fairly straightforward once the bank approved the sale. EquityMax came in and beat a competitive lender’s interest rate to secure the loan. This proved to be a win-win situation for all parties involved.
|FIX & FLIP LOAN|
|Location – Orefield, PA|
|Loan Amount – $80,000|
|Purchase Price – $100,000|
|Loan Type – Purchase|
|Term – 12 Months – 17 years (Borrower Option)|
|Rehab Amount – $30,000|
|Actual Retail Value – $200,000|
|Profit – $70,000|
Considering the state’s economy, population, rental demand, and populous metro areas, economic conditions are prime for successful real estate investing. In addition, Pennsylvania is home to a diverse spectrum of employment industries, such as machinery and equipment, media/telecommunications, fabricated metal products, food and kindred products, chemicals and allied products, even printing and publishing. Such a wide array of workers ultimately brings a varied group of potential buyers to the state at multiple price points for investors to work with.
Increasing Rent Prices
The state has a high population density and rental vacancies have fallen over the last decade. As a result, demand has markedly increased, prices are rising, and a significant amount of the population has been looking to become first-time homeowners.
Jobs have grown by 7.8% over the past six years in Pennsylvania. Furthermore, various reputable corporations such as Aramark, The Hershey Company, Comcast, and Alcoa are headquartered in the state. Even amidst the economic uncertainty, unemployment is also relatively healthy at only 4.3%.
Pennsylvania is home to some of the nation’s top universities, including Pitt, Penn St., UPenn, Haverford College, and Swarthmore College. As a result, there are plenty of young professionals and graduates looking for rent or home to start a family not to mention vast opportunities for college-centric housing rental developments.
“This firm knows what they are doing and through this pandemic and the shortage of money, I'm glad I have them as a partner to help my clients. Gregory and his staff (specifically Maria) did a great job in turning a file in a few weeks. I have been in the lending business for close to 20 years and I'm always looking for great partners to help our clients’ needs. If you are looking for a fast turnaround closing on your next investment - these are the guys to reach out to. They are up front, honest and straight to the point. Thank You Equitymax!”
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
During the Great Recession of 2008-2012, EquityMax was actively lending to investors around the country, while also taking back REOs from various defaulting borrowers. One such property we took back was a cemetery located outside of Pittsburgh in Monaca, PA. EquityMax successfully maintained and operated the grounds for over 10 years before the seller financed it to a local buyer.
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 lends on real estate throughout the state of Pennsylvania. Depending on the experience level of the investor we’re working with, we may suggest a particular market or property type to invest in.
EquityMax is a hands-on operation that loves meeting with clients. We had been attending regular investment club meetings in Philadelphia. When they re-start you can expect us to continue attending!
While investing in Pittsburgh “proper” will always provide more opportunities, we can even suggest expanding your footprint to less populous cities like Mount Lebanon. Places such as the smaller cities surrounding Pittsburgh ultimately provide slightly less inventory, but far less competition for properties.
EquityMax only lends on non-owner occupied, non-primary residence homes. Hence, you would need to live in a separate domicile other than the duplex you would be investing in.