Fort Wayne’s metropolitan area boasts a population of 419,453 (as of 2011) and is the cultural and economic center of northeastern Indiana. With steady growth and low unemployment, the city has been targeted by investors as one of the best places to flip homes.
Property values in the Fort Wayne housing market are currently $128,700 ($93 median price per square foot), a year-over-year increase of 10.9%. Zillow predicts home prices in this city will rise by 5.9% within the next year! What better time than now to buy investment property and flip for great profit?
Rehab loans, known as 203(k) loans (and by other names as well), offer an affordable solution for properties needing remodeling. Rehab loans are a great alternative to traditional forms of financing, which often do not provide the necessary funding to satisfactorily rebuild a property.
Whether you prefer a primary residence or an income-producing property, contact our experts at Proactive Lending Group for more information about rehab loans and their benefits!