The Most Reliable Hard Money Loans Come To Rhode Island

Asset Based Lending now offers our fast and reliable fix and flip loans to the entire state of Rhode Island. Our team specializes in closing deals quickly, utilizing local appraisals and in-house underwriting to close deals as fast as 24 hours with initial funding in 10 days or less. We offer flexible loans that are tailored to your specific project to ensure you are receiving the exact loan that you need, whether you’re a first-time investor or a seasoned professional.

With no pre-payment penalties and the most competitive rates and leverage in the market, ABL is the premier choice for investors who want to expand their real estate business. If you’re ready to be approved for the most trusted fix and flip loans Rhode Island has to offer, contact us today.

  • Local Rhode Island team
  • Home of the Zero-Point Loan
  • Close in 2 weeks or less
  • Fix & Flip or Fix & Hold
  • UP to 90% LTC
  • 100% renovation financing
  • Rates as low as 8.99%
  • Direct balance sheet lender

Close in 10 Days or Less
Rates Start as Low as 8.99%

Decorative: Angled
Get Started Today
Rhode Island Real Estate Favors Fix And Flips
Using A Hard Money Lender For Real Estate Investments
Why Investors Choose Asset Based Lending Hard Money Loans

Rhode Island Real Estate Favors Fix And Flips

Much like the rest of the northeast, this state has experienced amazing growth in average home prices brought on by a major decrease in housing inventory. As of December 2020, Redfin reports that the average sale price for homes in the state is $324,900, marking a 16% increase from the previous year and setting a 5-year-high record. The number of homes sold in December 2020 for the entire state reached 1,580, which is a 22% increase from the previous year and a 3-year-high for the area. Impressively, over 50% of these home sales received multiple offers above their asking price, putting the seller into a great position for negotiations.

While low inventory means finding a profitable deal is tougher than before, it also means the profits are much more lucrative. If this growth continues into 2021 then fix and flip investments in the state are going to continue yielding steady and impressive ROI. Currently, the most competitive cities for real estate are Cumberland Hill, East Providence, Greenville, Kingstown, and Pawtucket. Asset Based Lending offers hard money fix and flip loans in each of those cities and beyond, allowing real estate investors to take advantage of this hot market to expand their real estate business.

Using A Hard Money Lender For Real Estate Investments

Most real estate investors need some extra capital to complete their projects but choosing the right kind of loan can make a big difference. Financial institutions that use traditional mortgages are great options for purchasing a primary residence- however, investments are a different story. Banks don’t like loans with potential risk factors and use extremely strict qualifications that disqualify many viable investors. If you are a real estate investor that had one bad hit to your credit or are working on your first fix and flip, banks won’t consider the loan, no matter how reasonable the deal seems.

Hard money lenders are a different story since they can set their own parameters for who qualifies for their hard money loans. These lenders are like traditional private money lenders, although private money loans don’t come with the same reliability and business standards that hard money loans from reputable lenders do. Blending a financial institution with the flexibility of a private money lender, a hard money lender makes the most sense for real estate investments. If you’re looking to invest in fix and flips in Rhode Island, choosing a hard money fix and flip loan is the right move, and no one does it better than Asset Based Lending. With quick closings, flexible underwriting, and reliable draw schedules, ABL provides the best hard money loans RI has to offer.

Why Investors Choose Asset Based Lending Hard Money Loans

Every successful investor understands that time is of the essence, and Asset Based Lending works diligently to provide the quickest funding possible. With the ability to close loans for flipping houses in RI as fast as 24 hours and provide initial funding in 10 days or less, we make sure you never miss out on your next fix and flip project. We offer flexible loan sizes ranging from $75K to $10M with quick draw turnaround, so your renovations never experience a financial delay.

With the growing rate of fix and flips RI has seen, this state now has access to the most secure and reliable hard money fix and flip loans on the market. Asset Based Lending insists on a transparent lending process for flipping houses in Rhode Island with no pre-payment penalties.

Explore How We Work in Rhode Island

Our Promise to You

Decorative: Angled

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.

Get Started

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.