California Home Flipping
California investors are continuing to display high rates of California home flipping. While the return on investment (ROI) has fallen (along with profitability) California still ranked fourth among the 50 states and District of Columbia. The Golden State saw 5,361 homes flipped in Q2, the most total flips in Q2 by any state or District of Columbia (Florida was second at 4,677 and Arizona was a distant third with 1,754), RealtyTrac reported. California’s total accounted for 6.8 percent of all home sales in the state in Q2, which ranked it fourth behind only District of Columbia (10.2 percent), Nevada (8.1 percent), and Rhode Island (7.3 percent), according to RealtyTrac. Even though California’s total of flipped homes as a percentage of total sales declined by 25 percent quarter-over-quarter and 18 percent year-over-year, it was still good for fourth in the nation, according to RealtyTrac.
There has never been a better time to enter the real estate market in California than now. With property values on the rise, owners and investors can take advantage of the many opportunities that await on California’s sunny horizon. With loan terms reaching loan to value (LTV) ratios of 70% with interests rates ranging from 8-14%, HML’s hard money loan programs have the flexibility to match your needs. If you have bad credit, that is not a problem. Private lenders like HML determine your eligibility based on equity and the current market value of your property. Rather than focusing on the collateral asset being the exit strategy, HML looks to supply borrowers with funding that will enable them to leverage income and cash flows in order to make their payment obligations. HML doesn’t hold a “loan to own” mentality, rather HML looks to provide value in terms of effective and responsible financing for its borrowers.
For more information about loans for California home flipping, contact the professionals at HML Investments today.