Charleston Hard Money Loans
The Premier Hard Money Lender in Charleston, SC
Asset Based Lending offers hard money loans for real estate investors in Charleston and the rest of South Carolina. These loans in Charleston can be used for fix and flips and new construction, as well as cash out refinances and acquiring rental property. We focus on speed and reliability, approving loans as fast as 24 hours and closing deals in 10 days or less. Our Charleston loans are fully serviced in-house, with our flexible underwriting tailoring loans to match your specific project. Whether you’re looking for maximum leverage, lowest possible interest rates, zero points, or something else, our team is willing to work with you to ensure you receive the most fitting loan.
ABL is a local hard money lender that funds Charleston real estate investors, providing fast and reliable capital for a variety of investment opportunities. We have full control of our capital which allows us to work with investors of all experience levels, assessing each project individually. With thousands of loans totaling over $1 billion of financing in the last ten years, ABL hard money loans have become synonymous with quick closings and reliability. We’re proud of our hundreds of five-star reviews, boasting a simple and streamlined loan process from start to finish. If you’re looking for hard money loans in Berkeley County, then contact us today.
Recently Funded: Charleston, SC Fix And Flip
| Purchase: | $370,000 | Loan Amount: | $478,000 |
| Renovation: | $145,000 | ARV: | $900,000 |
Offering The Most Reliable Charleston Hard Money Loans
Charleston Fix and Flips Increasing Their ROI
With states like South Carolina receiving a lot of new residents over the last year, the population increase has caused housing demand in Charleston help to increase the potential ROI on fix and flips. As of August 2021 the average home sale price reached $420,000 which marks a 15% increase from the previous year. Homes are spending an average of 44 days on the market, which is a 37% decrease from the previous year and highlights how active the Charleston real estate market is. Historically low interest rates for home buyers combined with inventory shortage is helping to keep these average sale prices up in the five-year-high range for much of South Carolina, but especially places like Charleston.
Charleston fix and flips have only grown in their potential ROI, but investors still need reliable capital to remain competitive in the current market where cash offers and quick closings are reigning supreme. Many home viewings are seeing lines around the corner and the eviction moratorium has kept distressed properties from becoming easily accessible. Being first to make an offer and having a proof of funds letter ready can make all the difference, especially when you can receive your capital in less than 10 days. Asset Based Lending makes it possible for investors to acquire and renovate property using fix and flip loans, funding up to 90% of purchase and 100% of renovation. If you’re ready to be approved for your Charleston fix and flip loan, then contact us today.
Charleston New Construction Fills Inventory Gap
The South Carolina real estate markets are experiencing the same issue as other popular markets- low inventory. Supply chain issues and increased construction costs have delayed new construction projects or canceled them altogether for builders and developers without access to reliable capital. With demand for real estate at a peak and no available inventory, experienced builders and developers can take advantage of their skillset by filling these inventory gaps with high yielding ROI projects. As of August 2021 homes are selling for $234 per square foot, which marks a 17% increase from the previous year and highlights how much the growing demand has impacted the sale prices of new construction projects. Developers can follow local trends in Charleston real estate and build to match buyer demand- for example, homes in Charleston with home offices and outdoor decks are receiving the most attention online and typically receive offers for above listing price.
Builders and investors that can source their materials directly are in good positions to use our hard money new construction loans to start and finish their project, selling it in this hot seller’s market. We work with experienced developers to finance 100% of their construction costs and up to 90% of the land value, offering competitive interest rates and flexible underwriting to match your specific project. Our new construction loans offer investors a fast and reliable way to finance their project and scale their real estate business. If you’re an experienced builder that wants to be approved for Charleston new construction loans, then contact us today.
Investing in Charleston Rental Property
With housing inventory being at an all time low, the rental markets in popular cities like Charleston have seen large gains into the average ROI for investors. As of August 2021, the average monthly rent price in Charleston is $1,570 which marks a 12% increase year over year and is slightly higher than the national average. Currently 47% of the city’s population rents instead of owns and the rental vacancy rate hovers around 7%, making it an easy place to find tenants and ensure your asset continues to generate monthly income. Investors looking to begin or grow their rental portfolio in South Carolina should consider Charleston as their next investment opportunity.
These stats look great for one of the most popular investment strategies for real estate investors: the BRRRR method. The acronym stands for buy, rehab, rent, refinance, and repeat. It’s a process that’s as simple as it sounds: the investor purchases a property and renovates it to increase its market value and charge a higher monthly rent. After a tenant is found and the asset begins producing passive income, the investor refinances the loan and uses the newly acquired capital to purchase their next rental property to repeat the process. Over time, the investor grows their rental portfolio and eventually has multiple sources of passive monthly income, setting themselves up for long-term wealth. If you’re an investor that wants to utilize the BRRRR strategy using our Charleston rental loans, then contact us today.
