Baltimore’s real estate market is experiencing quite a bit of attention from investors recently. The economy has been experiencing slow but steady growth, making it a reliable choice to invest in real estate properties. The top industries that have been boosting the Baltimore economy are in areas such as healthcare, education (due to so many large colleges in the area), life sciences, and cybersecurity, but also the Port of Baltimore to a large extent. According to mashvisor.com, fix-and-flip investments proved successful for Baltimore real estate investors in 2017, 2018 and may continue through 2019. In fact, fix-and-flip investors boasted a whopping 96.6% average return on investment in 2017! This was supported by a year-over-year increase of investment property prices in excess of 2.4%. According to baltimorepostexaminer.com back in November 2018 the median home price in Baltimore was $237,855, much lower than some bigger real estate markets in the country, leaving investors with a lot of opportunity to expand their real estate portfolios.

Sharestates recently funded several blanket loans in Baltimore with properties in several different locations of the city. Several property locations are surrounding Druid Hill Park, a beautiful urban park in northwest Baltimore. Druid Hill Park, like Central park in NYC, is one of the oldest landscaped public parks in the US. Neighborhoods surrounding Druid Hill Park are known to feel suburban like in an urban city with good schools and smaller parks but also a good bar scene for the younger crowd. The following blanket loan was for a borrower acquiring the properties with the intention of adding value through renovations. The initial loan was for $2,745,000 with a rehab budget of $465,000. The properties in the blanket loan were all single-family residential properties.

Property Photos:

 

  • Loan Amount: $2,745,000.00
  • Purchase Price: $2,095.029.52
  • LTV: 58%
  • LTC: 80%
  • Average renovation budget: $465,000.00
  • ARV: 47% or $5,825,000.00

 

 

 

For more information about other properties Sharestates has funded or to submit your upcoming projects to get funding click below.

Private and institutional investors are branching out into smaller markets to achieve higher returns. According to Forbes.com more than half (55%) of the apartment properties bought and sold for more than $1 million in 2017 were located in secondary markets which is up from 42% in 2010. Also according to Forbes.com there are a few key benefits:

  • They are less volatile in downturns, which makes them particularly attractive late in the investment cycle.
  • Deals in these markets are not overvalued and offer higher returns.
  • They offer stronger growth potential due to a lower cost of living and less supply.

For portfolio diversification, Sharestates offers investment opportunities in secondary markets also. Here are a few properties recently funded by Sharestates, below.

This first property is located in Austin which is the capital of Texas and also one of the largest cities in the US.The city of Austin is about an hour and twenty minutes from San Antonio and about three hours from Houston. Austin is known for its live music scene, endless sunshine, natural beauty/outdoor adventures and the great balance of small town feel to big metropolis.

  • Loan Size: $303,000
  • Residential
  • Purchase Price: $295,000
  • LTV: 72%
  • LTC: 84%
  • Average renovation budget:   $67,200
  • ARV: 68% or $466,000

The second property is in Saint Paul, the capital of Minnesota. Saint Paul has big city amenities like museums and sport stadiums but also a very midwestern feel. Separated by the Mississippi River, the Twin Cities (Minneapolis/Saint Paul) are considered one metropolitan area but actually include two unique cities, featuring downtown cosmopolitan cores surrounded by distinctive neighborhoods and suburban communities.

  • Loan Size: $233,000
  • Residential
  • Purchase Price: $206,847
  • LTV: 76%
  • LTC: 76%
  • ARV: 66% or $351,000

The last property we’re highlighting is in Charlotte, North Carolina. Charlotte is the most populated city in North Carolina and has been ranked as one of the fasted growing cities from 2004 through 2014. There are many great reasons to live in Charlotte. The job market is booming with both the corporate headquarters of Bank of America and the the east coast hub of Wells Fargo located there. Charlotte has fantastic schools, and the quality of life is often cited as a reason for moving to the area with a cost of living below the national average by about 4%. 

  • Loan Size: $2,670,000
  • Residential -Town House
  • Refinance
  • LTV: 64%

 

 

For more information about other properties Sharestates has funded or to submit your upcoming projects to get funding click below.

Philadelphia is a hot housing market right now, and according to Zillow.com prices have risen 11.3% in the last year and 31% in the last 2 years. This is a lot higher than some other big cities in the U.S. like San Francisco, Los Angeles, Miami, Seattle, and Boston. With Philadelphia being a hot market, 2018 saw a lot of new construction and demand seems to be growing at a steady pace. This is in part due to a growing job market. In 2018 the rate of job growth grew faster than that national average says Mashvisor.com. According to some experts the Philadelphia real estate market is a smart and safe choice for investing now also because of its stability, which is one of the most important things to look for when investing in real estate. Being stable makes for low risk investment for a buy and hold investor. A report from Philly.com in early 2018 says Philadelphia’s real estate prices reported a jump of 10.5% in the median property price.

With all this growth in the Philadelphia real estate market, Sharestates has been active funding new deals with real estate developers in the region.

Here are some statistics from Sharestates:

  • Sharestates has funded 51 Philadelphia loans to date for a total funded volume of $29,964,000
  • 30 of the loans funded were for residential properties
  • 5 of the loans funded were for mixed-use properties
  • 1 of the loans funded were for multi-family properties
  • 4 of the loans funded were for commercial properties
  • 11 of the loans funded were for land deals
  • Average loan size: $589,529
  • Average loan to value (LTV): 73%
  • Average renovation budget: $320,892
  • Average after repair value (ARV): 42% or $1,637,670

Here are a few projects that Sharestates has recently funded:

This first property is a mixed-use property with 6 residential units and 1 commercial unit. This property is located in Queen Village which is immediately south of Center City and remains the oldest residential neighborhood in Philly.  The borrower acquired this property as a “fix & flip” and once rehab is complete, the developer will list this property for sale.

 

  • Appraised value: $1,600,000
  • Loan amount: $1,092,000
  • Purchase Price: $1,560,000
  • LTV: 68%
  • LTC: 70%

 

The next property is located in the Kensington neighborhood of Philadelphia. This area has recently seen a growth of young urban professionals moving in, which is partly due to low rents and a growth of hip bars as well as a large micro-brewery scene. The property is mixed-use and the borrower is acquiring the property with intentions of adding value through rehabilitation. When rehab is completed the property and/or the units will be leased out to tenants. 

 

   

  •     Appraised value: $660,000
  •     Loan amount: $473,000
  •     Purchase Price: $630,000
  •     LTV: 72%
  •     LTC: 75%

 

 

 

For more information about other properties Sharestates has funded or to submit your upcoming projects to get funding click below.

Anyone who has ever lived in Queens, NY knows it’s one of the most underrated boroughs in NYC. It may not be as glamorous as Manhattan or as cool as Brooklyn, but it has some wonderful assets. Transportation to all points in NYC is readily available by subway, commuter train, or ferry, and it’s available for much less money than any other borough. Yet, Queens is on its own, a thriving metropolis even without the other boroughs. For example, Astoria Park has a beautiful city park feel but it’s not nearly as crowded as the more traveled Central Park in Manhattan or Prospect Park in Brooklyn. Another amazing aspect of Queens is the amount of ethnic diversity in the borough making Queens a bastion of both amazing food and authentic ambiance in its many different neighborhoods. Locals know that the best soup dumplings can be found in Flushing and the best Greek and Mediterranean cuisine can be found on the streets of  Astoria.

With Amazon Headquarters soon moving to LIC, the housing and real estate markets could see an even bigger rise in people migrating to Queens than over the past year. People will be looking for more affordable middle-class housing which could be easily found in Queens, for now. The NYC Economic Development Corp (NYCEDC) registered 2,847 new housing units and 1,234 of those were in Queens as of February 2018. This was nearly a 300% jump compared to an average over the preceding 12 months. NYCEDC has also said this was the highest jump since December 2015. The number of homes in the market grew in Queen’s as well and the borough’s price index increased 7.3% to $530,556 according to a StreetEasy report that was released on July 25th 2018. The report also stated that Northwest Queens prices rose 5.1% to $775,122. Sharestates has funded many properties in the Borough of Queens.

Below are some statistics:

  • Sharestates has funded 63 Queens loans to date for a total funded volume of $46,093,000
  • 46 of the loans funded were for residential properties
  • 4 of the loans funded were for mixed-use properties
  • 3 of the loans funded were for multi-family properties
  • 9 of the loans funded were for commercial properties
  • 1 of the loans funded were for land deals
  • Average loan size: $731,634
  • Average loan to value (LTV): 69%
  • Average renovation budget: $207,771
  • Average after repair value (ARV): 57% or $1,391,571

The first residential property presented below was funded by Sharestates and is located in Forest Hills, Queens. This was a refinance and is planned to be sold as is.

Single Family

Residential

Refinance

Appraised value: $2,875,000

Loan amount: $1,900,000

LTV: 66%

The second residential property presented below was also funded by Sharestates and is located in Astoria, Queens. This was a refinance and is planned to be sold as is.

2-4 Family Residential

Refinance

Appraised value: $1,300,000

Loan amount: $910,000

LTV: 70%

Click below if you are interested in finding out more about Sharestates loan programs.

With Amazon HQ moving to Washington DC in the near future, real estate speculators have once again turned their attention to the DC metro area. There are many reasons why DC is a great place for millennials in particular, from new job opportunities to safe neighborhoods and excellent school districts. According to the Huffington Post young adults between the ages of 25-34 have been moving to Washington DC more than any other city in the US. The Wall Street Journal also reported that between 2010 and 2012 the metro Washington area – which includes suburbs in Maryland and Virginia – saw an average annual net gain of 12,583 people from the millennial generation.

Sharestates has recently funded properties in DC, the southern part of Maryland and the northern counties of Virginia. One property that Sharestates recently funded was a private loan on a mixed-use building with 2 residential units and 1 commercial unit that is located in the Capital Hill neighborhood of Washington DC. The specific area is historically known as Lincoln Square and has the largest urban park also in the Capital Hill neighborhood called Lincoln Park. Some information about this property:

  • Appraised value: $3,200,000
  • Loan amount: $2,560,000
  • Purchase Price: $3,200,000
  • LTV: 61%
  • After-repair value: $3,225,000
  • ARV: 57%

 

 

 

 

Another property funded by Sharestates is located in the beautiful town of Potomac Maryland and is considered a commuter town to Washington DC. It is located approximately 13 miles from DC and on average takes about 35 minutes to drive without traffic. Potomac MD is also one of the richest towns in the US ranked by Forbes.com. The property was an investment for a private loan on a residential property. The borrower acquired the property as a “fix & flip” and once rehab is complete will put property on the market to sell. Here is some information about this property:

 

  • Appraised value: $1,470,500
  • Loan amount: $1,100,000
  • LTV: 75%
  • Purchase Price: $1,500,000
  • LTC: 73%

 

 

To read about more loans Sharestates’ has funded or to get information on how to get funding for your next real estate investment.

As we’ve written recently, the New Jersey real estate market is booming with activity right now. Northern New Jersey, in particular has become a center of development due to its close to proximity to Manhattan. From Millenials looking for a starter apartment, to Gen Xers looking for more space, to Baby Boomers looking to downsize, northern NJ represents an affordable option to what can be found on the other side of the Hudson River. Sharestates has cultivated relationships with New Jersey real estate developers over the years and has funded many projects from ground-up construction to fix-and-flip renovation projects.

 

 

Sharestates Real Estate Activity in Northern New Jersey

  • Sharestates has funded 524 Northern New Jersey loans to date for a total funded volume of $281,425,450
  • 354 of the loans funded were for residential properties
  • 13 of the loans funded were for mixed-use properties
  • 89 of the loans funded were for multi-family properties
  • 43 of the loans funded were for commercial properties
  • 25 of the loans funded were for land deals
  • Average loan size: $900,625
  • Average loan to value (LTV): 65%
  • Average renovation budget: $341,684
  • Average after repair value (ARV): 53% or $2,047879

Residential Project Success Stories

The first residential project presented below successfully underwent construction for 2 individual units. The borrower intends to complete the build out and sell the property once construction is complete or refinance into a conventional loan. This was ground up construction from a parcel of land. The borrower structured the loan into two draws of capital over the course of the construction period, which included flooring, electrical, plumbing, HVAC, windows, doors, cabinetry, tiles, bathroom fixtures and more.

  • Appraised value: $100,000
  • Loan amount: $190,000
  • LTV: 70%
  • After-repair value: $350,000
  • ARV: 54%

This residential property is located in Paterson,New Jersey. The town of Paterson is in Passaic county which is considered a part of the New York metropolitan area. This area is about 21 miles outside of Midtown Manhattan and has a median home value of $241,000. The median list price per square foot in Paterson is $127, which is significantly lower than the New York-Newark-Jersey City Metro average of $272.

Pre-construction appearance

Post-construction appearance

The next project success story funded by Sharestates was an  8-unit residential/1-unit commercial property.The borrower previously acquired and recently renovated the property. The borrower intends to refinance the property, pull out equity and pursue new opportunities after completion. The property is now fully occupied with tenants and the apartments have been fully renovated.

  • Appraised value: $950,000
  • Loan amount: $848,000
  • LTV: 79%
  • After-repair value: $1,260,000
  • ARV: 67%

The multi-use building is located in Union City, New Jersey. This city is located in Hudson County, bordering Hoboken and Jersey City. The commute into NYC’s Port Authority is an average of 20 minutes. A current surge of houses have been sold to Millennials who are making their way there. According to Zillow.com the median home value is $407,000 and home values have gone up over 15% in the past year. Zillow predicts they will rise 7.9% in the next year.

If you have a project that you would like to submit to Sharestates for consideration, click here. Sharestates is now funding loans in 46 states Nationwide.

Pre-construction appearance

Post-construction appearance