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Hard money and fix and flip loans in Smyrna, Georgia
Financing for postwar ranches to update or rebuild and townhomes in Smyrna.
The Smyrna market for investors
Smyrna sits just inside the Perimeter’s northwest edge, close to the Cumberland business district and the Battery Atlanta around the Braves’ ballpark. Its postwar ranches on large lots draw renovators and builders.
Investors update 1950s and 1960s houses, tear down smaller homes to build new ones, and hold townhomes and houses as rentals.
Areas investors ask about
- Near Smyrna Market Village: older homes and new construction
- Forest Hills and Belmont Hills area: postwar ranches to renovate or rebuild
- Toward Vinings and Cumberland: townhomes and higher-priced homes
Plan for these on a Smyrna 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.
- Many newer subdivisions have association dues, which count in the payment, and some limit leasing or short-term rentals.
- 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.
Loans available in Smyrna
| 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 |
Smyrna hard money loans: common questions
Yes. A construction loan can cover the lot and the new build at up to 90% of cost for experienced builders.
Yes, with DSCR rental loans at up to 85% loan-to-value.
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 Smyrna?
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.