CLOSE IN 48 HOURS OR LESS! READY TO GET STARTED ON YOUR NEXT DEAL IN TENNESSEE?
A Utah-based investor had an opportunity to buy into a great real estate investment in the surrounding Memphis metro area. However, she needed to pull cash out of one of her homes owned by her self-directed IRA to purchase the commercial property. EquityMax offered a quick cash-out refi without an appraisal to ensure she had the funds for immediate use on her upcoming transaction.
|Location – Memphis, TN|
|Loan Amount – $125,000|
|Purchase Price – N/A|
|Loan Type – REFI|
|Term – 12 Months – 17 years (Borrower Option)|
|Rehab Amount – Fully Repaired At Closing|
|Actual Retail Value – $250,000|
|Profit – 15% ROI|
There is clearly a growing demand for less maintenance-intensive investments, such as condos. Investors must always weigh the cost savings of this strategy with what will likely be a pricey HOA bill. With such an influx of new construction multi-family units being available, it may provide opportunities to purchase at lower price points, given the high supply of available units.
Prosperous Job Market & Low Cost of Living
Tennessee has a fairly low unemployment rate of 3.4% and features eleven Fortune 500 companies. Additionally, the Volunteer State has one of the lowest costs of living in the United States.
Dynamic Foreign Investor Environment
Nearly 1,000 foreign-owned companies have invested more than $34 billion and generated nearly 140,000 jobs across the state, leading to more demand for properties throughout TN.
Tennessee is attractive to many retirees who have more discretionary income based on lack of Social Security Tax. Additionally, property taxes are low with an AER of only 0.75. These lend itself to more opportunities in developing more senior-friendly communities.
“There are so few non-recourse lenders in the market, but EquityMax was able to meet the challenge and finance my deal. It was incredibly easy to work with them, and I loved that they serviced my loan directly even after the loan was funded.”
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 travels monthly to both the Nashville and Knoxville markets in support of each region’s REIA organizations. As members of both REIN and KnoxREIA, EquityMax has actively been working in both markets helping investors with insight and financing on their real estate investment projects.
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.
Memphis certainly offers lower barrier of entry, given the price points, but Nashville is finding a growing population, which could potentially increase your available buying pool of end users.
EquityMax is a hands-on operation that loves meeting with clients. We are actively part of REIN in Nashville and can travel as far east as Chattanooga and Knoxville, should you want to meet in person.
Local Wholesalers, along with national companies like New Western Investments and Net Worth Realty offer plentiful opportunities for investors to purchase and invest in real estate.