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Hard money and fix and flip loans in College Park, Georgia
Financing for historic homes to renovate and rentals near the airport in College Park.
The College Park market for investors
College Park borders Hartsfield-Jackson Atlanta International Airport and has a large historic district of early 1900s homes, along with the Gateway Center and convention facilities near the airport.
Investors renovate historic and mid-century houses and hold rentals for the large airport workforce.
Areas investors ask about
- The historic district: early 1900s homes, where exterior work needs city review
- Near Main Street and the MARTA station: older homes and small rentals
- West College Park: ranches and newer homes
Plan for these on a College Park deal
- Georgia taxes real estate on 40% of fair market value, and investment property gets no homestead exemption or cap on yearly increases. A recent sale price usually becomes the new value, so budget taxes on what you pay.
- Georgia’s transfer tax is $1 per $1,000 of price, usually paid by the seller. A long-term mortgage note adds intangible recording tax of $1.50 per $500 of the loan, up to $25,000; short-term notes are generally exempt.
- Exterior changes in the historic district need approval from the city’s historic preservation commission.
- Older houses often sit on crawl spaces, where moisture, wood rot and termites are common. Get a full inspection and a termite letter before you set the rehab budget.
- Hail, wind and falling trees drive insurance costs, and an older roof or wiring can raise the premium. Get a quote before you make an offer.
Loans available in College Park
| Program | Use it for | Top leverage |
|---|---|---|
| DSCR rental loans | Purchase or refinance of single-family rentals, duplexes, townhomes and small multifamily | 85% loan-to-value to buy, 80% on a cash-out refinance |
| Ground-up construction loans | Building a home, a duplex, a build-to-rent home or a small apartment building, lot included | 90% of cost for experienced builders, up to 70 to 75% of the finished value |
| Fix and flip loans | Purchase plus renovation of a property you intend to sell | 90% of the purchase price and 100% of the rehab, up to 70 to 75% of after-repair value |
| Portfolio and commercial loans | A group of rentals under one note, or multifamily and commercial property | 80% on a portfolio purchase; commercial priced per deal |
College Park hard money loans: common questions
Yes. We finance fix and flips, rentals and construction across College Park.
Yes, as fix and flip or rental loans on investment property.
Fix and flip loans average up to 21 days and can close in about 7 days when title and insurance are ready. Rental and DSCR loans take about 30 days, appraisal included. Closings are conducted by a Georgia closing attorney.
Looking at a property in College Park?
Send the address, the price and what you plan to do with the property. We will reply with the leverage and pricing that fit your deal.