The Most Reliable Hard Money Lenders for Philadelphia, PA Real Estate Investors

Asset Based Lending is the premier private hard money lender in Philadelphia, PA and the rest of the tristate area, providing the best hard money loans for fix and flips, new construction, and rental properties. ABL has been lending to real estate investors for over ten years, providing the fastest and most reliable private money loans in the business. We specialize in closing deals quickly, with loan approval as fast as 24 hours and funding in 10 days or less. We offer flexible underwriting and professional draw management to ensure your project not only closes on time but doesn’t experience delays during the renovation/construction process either.

Our team are experts in the local real estate markets, making sure we only accept loans in Philadelphia that we believe in and giving our borrowers deep insights into ongoing market trends. With hundreds of verified five-star reviews and half of our borrowers choosing to repeat business with us, ABL is dedicated to showing Philadelphia County investors why our streamlined loan process is better than any other.

If you’re ready to be approved for your hard money loan in Philadelphia, PA for fix and flips, new construction, or long-term rental portfolios, then contact us today.

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Philadelphia Fix And Flips Continue To Grow
Residential New Construction In Philadelphia
Rental Property In Philadelphia Bouncing Back

Philadelphia Fix And Flips Continue To Grow

With many people choosing to move out of cities and other cramped urban areas, investors have taken advantage of the open inventory for their fix and flip investments. As of January 2021, the average sale price for Philadelphia homes reached $239,000 which is a nearly 14% increase from the previous year. The number of homes sold reached 1,334 which is over an 8% increase from last year and indicates a constant, healthy market growth that favors sellers. On average homes are only remaining on the market for 44 days, which is a 15% drop from the previous year and highlights the competitive market that buyers are experiencing.

New and experienced investors that can secure a good deal, whether it’s a foreclosure or a property that slipped between the cracks, can use this opportunity for a tremendous ROI. ABL lends to real estate investors of all experience levels, judging the deal based on the property and scope of work with minimal financial requirements.

Residential New Construction In Philadelphia

Record-breaking shortages of housing inventory are occurring throughout the country, and new construction is the solution. Experienced contractors and builders are taking advantage of the high demand in the marketplace by filling these inventory gaps with new single-family homes and multi-family properties. As of January 2021, homes in Philadelphia are selling on average for $176 per square foot which is a 13% increase from the previous year. For investors that can secure a prime parcel of land and keep construction costs low by sourcing their materials directly, residential new construction can provide a high ROI.

It’s important to note the Philadelphia real estate market trends before embarking on a new construction project to plan your design around the demands of the home buyers. For instance, in Philadelphia the top three home features receiving the most attention online are laundry area, back patio, and breakfast bar. That means homes containing these features are receiving more views than listings without these features, and the homes that sell with these are selling for slightly above asking price. Catering to the market is a huge advantage for builders, and knowing the demands beforehand is how to guarantee an early sale.

Rental Property In Philadelphia Bouncing Back

Even though many residents have been moving from urban to suburban areas, cities like Philadelphia are starting to see their rental market return to pre-pandemic levels. Since many people could not afford city rent prices beforehand, these new reduced prices are bringing in an entirely new population of renters and keeping vacancy rates lower than places like New York City or San Francisco. Due to the currently under-market values of city properties, this is the perfect time for investors to snag low priced inventory and prepare to turn them into rental assets.

A modern trend of real estate investors is to focus on long-term gains rather than short term by using the BRRRR method. This method stands for buy, rehab, rent, refinance, and repeat. Investors simply follow the steps in order- they purchase a property and renovate it to increase its market value, then they rent it out to begin generating passive income. Afterwards, they refinance the property and use their new capital to purchase the next rental property, repeating the process there and slowly achieving several sources of steady monthly income. By utilizing the BRRRR strategy rather than fix and flip or new construction, investors continue to add to their rental portfolio over time and aim to achieve long term wealth.

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Our Promise to You

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Fast Processing

Get preapproved within 24 hours and close in as few as 3 days. We understand you need to move fast, and by working with a direct lender like us who requires minimal paperwork, you can.

Zero Points Required

Get preapproved within 24 hours and close in as few as 3 days. We understand you need to move fast, and by working with a direct lender like us who requires minimal paperwork, you can.

Local Expert Support

Get preapproved within 24 hours and close in as few as 3 days. We understand you need to move fast, and by working with a direct lender like us who requires minimal paperwork, you can.

Proven Reliability

Get preapproved within 24 hours and close in as few as 3 days. We understand you need to move fast, and by working with a direct lender like us who requires minimal paperwork, you can.

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Real Reviews from Real Borrowers

 

Great experience! They always answered or returned my calls immediately and walked me through the entire process and made sure all my questions were answered. I had a couple of questions weeks after my loan closed and they still responded immediately and made sure i was taken care of. Great experience and I would highly recommend ABL.

Cindy G.

I am glad I got to know Asset Based Lending, they made funding for my construction site very simple. They have a great team of people, that would go out of their way to help. Boris has been great and very helpful, I highly recommend them for all your Construction financing needs.

Mike A.

I have had the pleasure of working with Boris Akbashev for my real estate financing needs on my last 10-15 projects, and I cannot speak highly enough of his professionalism and expertise. Boris demonstrated a deep understanding of the lending process and went above and beyond to ensure I secured the best possible terms.

John S.

Truly a pleasure having ABL on every deal! Thanks to their lending experise and timely support and guidance throughout the process to get the best loan for my deals. I can see my company growth from 1-2 flips to numerous flips, new construction, and DSCR loan to grow my portfolio.

Pedro E.

Asset Based Lending is the place to shop for all your construction needs. Their easy funding policy, makes life so much simpler for any builder to focus on building and not be worried about financing project. Boris was supper helpful to accommodate me with all me financing needs.

Ray P.