A first-time investor was purchasing a newer construction home along the eastern coast of Texas at below-market value. It needed light rehab, which the borrower was willing to front the cost of. EquityMax provided short-term financing at 80% of the purchase. Borrower exited the loan, refinancing through a traditional bank. He was undecided at the top of loan payoff whether he would rent the property out or sell to an end-user.
|FIX AND FLIP|
|Location – Galveston, Texas|
|Loan Amount – $350,000|
|Purchase Price – $445,000|
|Loan Type – Purchase|
|Term – 12 Months – 17 years (Borrower Option)|
|Rehab Amount – $10,000|
|After Repair Value – $600,000|
|Profit – $100,000+|
While real estate investors are increasingly noting that inventory is low, the data ironically suggests that real estate activity, in general, has never been more robust over the last 12 months. Indicators suggest that this should continue for the next 12 months before tapering off significantly thereafter in 2022.
Exodus From California
Big name companies, such as Oracle and Tesla, are moving strategic operations to the Lone Star state. This will ultimately offer further opportunities to develop real estate for purchase and rental.
The energy sector – whether gas, oil, and eco-friendly innovation – will increasingly drive real estate investment demand for buyer, sellers, and investors alike.
State Government Policies
A lack of state income tax will always provide monetary loopholes that can maximize profit on any deal. This provides a wide geographic footprint that investors can take advantage of, whether an investor is local or foreign to the state.
From the first call, I spoke with Brad and Greg, the owners, and their great support staff, who guided me and answered all of my questions. Everyone at EquityMax was helpful in ensuring a streamlined closing, and even after funding, I know I can reach out to them directly with any questions about my loan.
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
While Gregory Emmer mainly serves in the capacity of the loan origination and funding side of the business, he also holds a General Contractor License in the state of Florida. This has proved useful when EquityMax has taken back properties via foreclosure and repairs have been necessary prior to re-selling or renting. His know-how of various trades also helps as EquityMax verifies scope of work of the projects we finance throughout the country.
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 does not require that you have previously invested in Texas or a particular city (i.e. Dallas, Houston, Austin, etc…) for us to provide you a loan in that area. If the deal makes sense, we’ll lend on it.
EquityMax gladly allows borrowers to take on additional debt outside of our financing to secure the property.
While EquityMax’s origins started out in 1990, financing strictly in Florida, we have been lending in Texas for several years, dating back 20 years.
EquityMax understands that investors work in a variety of financial capacities. A big deal for someone may be a smaller deal for someone else. Hence, EquityMax tailors it’s financing to a client’s specific needs, with loans as small as $25,000 up to $1,000,000.