Center Street Lending Announces Expansion Into Maryland, Washington and Virginia

IRVINE, Calif., Sept. 16, 2015 /PRNewswire/ -- Center Street Lending, one of the largest private money lenders to the residential investor community, today announced expansion into three new key markets: Virginia, Maryland, and Washington. The expansion secures Center Street's position as a leading private lender in nine states, offering all of its flexible, fast-close loan products in each market. Center Street Lending's portfolio of loans including fix/flip loans, construction loans and rental property loans are now available in nine top residential investor states including: California, Arizona, Colorado, Florida, Maryland, North Carolina, Texas, Virginia and Washington.

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According to RealtyTrac, the three newest states added to Center Street's service areas have a strong gross profit history in residential fix/flip investments. While the average gross profit margins for residential fix/flip investments nationwide is about 25 percent, in 2014, Virginia, Maryland, and Washington data showed gross profit margins of: 39 percent, 55 percent and 43 percent, respectively.*

A direct lender with a strong capital position, Center Street Lending has provided timely funding at low rates for more than $400 million in loans. The company's industry leading service, flexible underwriting, available next-day funding and no hidden fees helps investors to move quickly onreal estate opportunities as well as maximize their investment prospects.

"Center Street Lending is committed to becoming the preferred choice for premier residential investors who seek a reliable and efficient lender", said Brandon Hammermeister, Vice President, Center Street Lending. "The expansion into these three new markets — Virginia, Maryland and Washington — will enable Center Street to meet the demand for flexible, fast and competitive financing solutions for real estate investors and property flippers."

For more information about Center Street Lending, visit www.CenterStreetLending.com, call 800.208.2982 or email [email protected]. About Center Street LendingCenter Street Lending (CA BRE 01883377, NMLS 905781) is one of the largest private money lenders offering residential investors financing for rental and fix/flip properties at attractive rates. Industry-leading service, flexible underwriting, attractively priced loans, no hidden fees and available next day funding are some reasons investors select Center Street Lending for their financing needs. For additional information visit: www.centerstreetlending.com.

* Gross profit is calculated as the difference between purchase price and resale price exclusive of any renovation expenses.

CONTACTS:     Jens SchoellCenter Street Lending949-244-1090 Email

Christine WelchEcho Media Group 714-573-0899 x225 Email

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SOURCE Center Street Lending