Fix and flip is the most common loan program that real estate investors look for when they contact a hard money lender. When making these deals, there has to be a certain guarantee that the renovations made to the property will attract buyers willing to pay more than what you invested in those improvements. That way you can pay the loan and earn a profit.
However, there are more options and hard money loan programs you can apply for depending on your financial situation and your investment desires.
The mission statement of Coral Springs is “To be the premier city in Florida to live, work and raise a family” and it’s actually a great place where you can find a variety of properties to invest in.
The city is in Broward County with a population of 133,759 residents. Some of the places it’s known for are the Coral Springs Museum of Art, Coral Springs Center for the Arts and the Tall Cypress Natural Area.
Real estate in Coral Springs is a good market where you find homes with a median value of $381,505 and an average of $2,176 per month in the rental market.
Incentives for Businesses
The city offers different types of incentives for companies interested in growing the local economic development, some of them are:
Targeted Industry Incentives
- Qualified Target Industry Tax Fund (QTI) — Applicants can receive tax refunds from $3,000 to $5,000.
- Qualified Defense And Space Contractor Tax Refund (QDSC) — Applicants can receive tax refunds from $3,000 to $6,000.
- Capital Investment Tax Credit (CITC)
- High Impact Performance Incentive Grant (HIPI)
Workforce Training Incentives
- Quick Response Training Program (QRT)
- Incumbent Worker Training Program (IWT)
- Economic Development Transportation Fund
Special Opportunity Incentives
- Brownfield Incentives
You can learn more about each incentive in detail by accessing their website.
Other Interesting Facts About Coral Springs
- Residents have a per capita income of $33,173
- As an incentive to support local businesses and recognize their hard work, the city offers the Business Excellence Awards
Hard money lenders in Coral Springs can educate you on what would be the factors you can consider to make the best investment decision. Here’s a list of some of them: