Atlanta is quickly becoming one of the hottest—and not to mention competitive—real estate markets in the nation. With abundant potentially lucrative deals to be had, every little advantage when it comes to completing transactions efficiently is worth its weight in gold. And when it comes to closing on a deal on properties with multiple interested parties, using a hard money loan is a great way to make your real estate investment dreams become a reality. Here’s a quick rundown as to why Atlanta in particular is the ideal location to use a hard money loan to fund the expansion and diversification of your real estate investment portfolio. Whether you’re looking to acquire your first or hundredth passive income revenue stream, look no further than Gauntlet Funding’s streamlined hard money loan services.
For Atlanta, real estate investors looking to hone in on promising deals for fix and flip investments that they can snap up at a great value with a hard money loan, renovate and resell for a handsome profit, taking an in-depth look at the amount of foreclosures, property auctions and bank-owned homes is particularly useful. Because of the high demand for this limited pool of properties, investors will find the speed in which Gauntlet funding can get them the money they need to close the deal especially enticing. Having the needed money in-hand when it comes time to make an offer on that ideal property is a distinct leg-up on the competition and will make your offer more attractive to the seller. The foreclosure rate in Atlanta is 1 in every 5922 homes, whereas the number of auctions is up 22.9% from last month. From an investor’s perspective, this means Atlanta is ripe with properties that could present a healthy return on investment.
With home values in Atlanta rising 12.9% since last year to the present average of $349,950, investors should take note that the market is increasing in demand—which means that rehabilitated fix and flips will be easier to sell on tight deadlines without losing money while properties stagnate on the market. The Atlanta real estate industry has experienced a smooth recovery from COVID-19, fueled in part by record-low interest rates and are enticing buyers into the market and offering them increased buying power. Even as home values consistently rise, these subprime mortgage rates allow buyers to confidently purchase new real estate. The high demand combined with the reduced inventory and a constrained housing market has fueled a consistent rise in Atlanta home prices. The end result is that the median sales prices continue to gain steam and outpace last year’s statistics with substantial gains.
There is also a lowered inventory that is driving up housing demand. The Atlanta inventory homes for sale has fallen to 2 months in the metro area, which is nearly 4 months less than what experts consider an ideally-balanced real estate market—a characteristic that should continue to place upward pressure on sales prices over the coming months. The Atlanta housing market is anticipated to undergo one of the country’s most pronounced jumps in home prices over 2021, with the forecasted growth at a solid 6.7%. The October 2020 residential sales were at 6,051, a drop of 3.3% from the prior year. Home sales are projected to increase this year with an estimated growth of 3.6% in metro Atlanta. Taking into account the fallout from the ongoing pandemic in conjunction with the expected growth of telework options, there could be even more home sales in the Atlanta suburbs than was originally thought. Investors should be aware of these trends when determining where to look for their next deal to capitalize on their hard money loan advantages.
Benefits of Investing in the Atlanta Market with a Hard Money Loan | Gauntlet Funding – Melville, NY