Hard-Money Loans in Rhode Island
Rhode Island may be the smallest state in the US, but it packs a big punch when it comes to real estate opportunities! For starters, the Ocean State is home to some of the country's most popular attractions, including Newport Beach, Block Island, and Providence. But what really makes Rhode Island a great place to invest in real estate is the potential for fix and flip properties and rental properties.
Rhode Island Loan ApplicationInvestment Properties in Rhode Island
At a time when many investment opportunities are uncertain, real estate remains a strong choice in Rhode Island.
Rhode Island is a small state with a big heart - and an even bigger economy. The Ocean State is home to some of the world's most recognizable brands, including Hasbro, CVS, Fidelity investment, Amica Insurance, and Textron. The interesting and unique tidbit about Rhode Island when discussing real estate investing is the population of each city may not be relevant. In other states, the most populated cities and their sprawl account for large corporations and therefore employees needing rental properties or housing. In Rhode Island, due to its location, there may be reasons for companies to host their headquarters in small cities. For example, Pangaea Logistics and its almost $1 billion of annual revenue are based in Newport, RI. While small in its number of employees (750), they are successful and looking for options on higher prices housing inventory or rental properties.
Short term returns through property flipping can be attractive if you have an undervalued property, with an average home sale price of $430,600. Longer term investments in rental properties can generate more than $1,604 per unit in revenue each month. Alternatively, you could buy one of more than 412 empty lots for a new construction to build something from the ground-up! Rhode Island has it all.
That's not all. Rhode Island may be the smallest state in the US, but it's huge when it comes to attractions. From historic landmarks to natural wonders, there is something for everyone in this little state. One of the most popular attractions is the Newport Cliff Walk, which offers stunning views of the Atlantic Ocean. For history buffs, a visit to the Breakers, a Gilded Age mansion, is a must. And no trip to Rhode Island would be complete without taking a stroll through WaterFire, an art installation consisting of over 80 bonfires that blaze along the Providence River. With so much to see and do, it's no wonder Rhode Island is one of the most popular tourist destinations in the country.
A look of the Rhode Island demographics reveals that 13.4% of residents are between the ages of 25 and 34, 16.2% are between 35 and 44, and 36.5% are over 44 years old.
Invest in the future of Rhode Island with real estate. LSM can help you!
Rhode Island is a small state with a big heart - and an even bigger economy. The Ocean State is home to some of the world's most recognizable brands, including Hasbro, CVS, Fidelity investment, Amica Insurance, and Textron. The interesting and unique tidbit about Rhode Island when discussing real estate investing is the population of each city may not be relevant. In other states, the most populated cities and their sprawl account for large corporations and therefore employees needing rental properties or housing. In Rhode Island, due to its location, there may be reasons for companies to host their headquarters in small cities. For example, Pangaea Logistics and its almost $1 billion of annual revenue are based in Newport, RI. While small in its number of employees (750), they are successful and looking for options on higher prices housing inventory or rental properties.
Short term returns through property flipping can be attractive if you have an undervalued property, with an average home sale price of $430,600. Longer term investments in rental properties can generate more than $1,604 per unit in revenue each month. Alternatively, you could buy one of more than 412 empty lots for a new construction to build something from the ground-up! Rhode Island has it all.
That's not all. Rhode Island may be the smallest state in the US, but it's huge when it comes to attractions. From historic landmarks to natural wonders, there is something for everyone in this little state. One of the most popular attractions is the Newport Cliff Walk, which offers stunning views of the Atlantic Ocean. For history buffs, a visit to the Breakers, a Gilded Age mansion, is a must. And no trip to Rhode Island would be complete without taking a stroll through WaterFire, an art installation consisting of over 80 bonfires that blaze along the Providence River. With so much to see and do, it's no wonder Rhode Island is one of the most popular tourist destinations in the country.
A look of the Rhode Island demographics reveals that 13.4% of residents are between the ages of 25 and 34, 16.2% are between 35 and 44, and 36.5% are over 44 years old.
Invest in the future of Rhode Island with real estate. LSM can help you!
Loan Summary Information for Rhode Island
Getting the right funding in Rhode Island can be challenging but we can help; Lend Some Money (LSM) offers private money for real estate, built for your local investment needs in Rhode Island. Whether you flip houses, or are interested in building a new home to sell, or a rental for the long term, LSM has a product that can help. We are one of the premier hard money lenders in Rhode Island. Read on to learn more about our current offerings in Rhode Island.
| Loan Products | FICO | $ Loan | Term | Rate | Points |
|---|---|---|---|---|---|
| FIX&FLIP (BRIDGE) | 620+ | $75K+ | 12-24 Mos | 10.25%+ | 2-4 |
| RENTAL (1-4) | 660+ | $75K+ | 30-Yrs | 7.59%+ | 1-4 |
| RENTAL (5+) | 680+ | $250K+ | 30-Yrs** | 7.89%+ | 2-5 |
| NEW CONSTRUCT | 650+ | $75K+ | 12-24 Mos | 10.89%+ | 2-4 |
All loans must be used for non-owner occupied properties purchased for investment. Commercial properties are not eligible for lending unless they are mixed use and comprise at least 50% residential use.
** 30 Years 5, 7, 10 or interest only