HUNTSVILLE — Kiavi, a California-based financing provider to real estate investors, is expanding its products to three states including Alabama. While Kiavi provides investors with capital, competitive rates and flexible financing solutions, this expansion is a new move to further support REIs in their bid to reinvigorate the country’s aging housing stock.
Based on the U.S. Census Bureau, American Housing Survey in 2019, “aging housing stock” are homes over 30 years old from the original construction date.
According to a new National Association of Realtors report early last year, construction of new housing in the past 20 years fell 5.5 million units short of long-term historical levels, calling for a “once-in-a-generation” policy response.
“We are thrilled to support real estate investors in Alabama, Arkansas and Wisconsin, helping them revitalize neighborhoods in these markets,” said Michael Bourque, CEO of Kiavi. “All three states provide incredible opportunities for our customers to transform aging homes and make them move-in ready for families and truly impact the local communities.”
Bourque said he was confident that with their digital technology platform, REIs could make smarter decisions and unlock the true potential of their real estate investments.
“We are 5.5 million housing units short in the United States,” Bourque said. “Current supply chain shortages are already pointing to a slowdown in new construction. With millennials entering their prime home buying years, it is even more important that we, as a nation, work together to close the housing gap and work towards rehabilitating America’s aging housing stock especially at a time when over two-thirds of U.S. homes are over 30 years old.”
Kiavi’s bridge loans make it easy to purchase and rehabilitate investment properties with flexible, short-term financing. The company’s rental loans make it easy to invest in rental properties with long-term financing options. The new markets provide opportunity for REIs to expand and scale their business.
While Mobile is ranked as the sixth-best city to flip homes in America due to its high market potential, low renovation costs and high quality of life; Huntsville is Alabama’s largest city and has a younger population compared to the national average, which is a great indicator for the market’s future.
With a median rent of $1,000 and ranked as the 18th best city to flip houses in the nation, Kiavi believes Huntsville is a great market to invest in.
Kiavi is committed to helping customers revitalize approximately $25 trillion worth of aged U.S. housing stock and provide move-in ready homes and rental housing for millions of Americans across the country.
Don’t miss out! Subscribe to our email newsletter to have all our smart stories delivered to your inbox.
