Hard Money Lender in Bay Shore, NY

West Forest Capital functions as a hard money lender, offering private, asset-backed loans for real estate that do not require a FICO score. We assess the potential of each investment based on its purchase price and projected after-repair value (ARV), enabling us to fund projects quickly—often in five days or less—much faster than conventional banks.

We specialize in lending to investors who need rapid financing, flexible terms, or funding for properties that banks typically reject, such as those requiring significant rehabilitation or lacking a Certificate of Occupancy. We also assist investors working to improve their credit profiles or needing refinancing on a tight schedule. Additionally, we often help with auction purchases and quick-turn flips.

Because our hard money loans are commercial, we only extend them to LLCs. Setting up an LLC is a simple process that even individual investors can manage. In addition to confirming the LLC structure, we check that the title is clear and review the project’s full scope, including rehab plans if applicable.

For real estate investors seeking quick, flexible funding in time-sensitive scenarios, a hard money loan from West Forest Capital provides the solution needed to move deals forward.

Hard money loans are a fast and flexible financing option, significantly easier and quicker to obtain than traditional bank loans. However, the speed comes at a price. Interest rates typically range between 9% and 12%, and closing fees are often between 1 to 3 points. These loans are typically short-term, with most terms spanning one to two years.

Our hard money offerings generally consist of two parts: (1) a purchase loan that covers 70% to 85% of the property’s acquisition cost, and (2) a rehab loan that finances the cost of necessary renovations. At West Forest Capital, we frequently fund the entire rehab budget for properties requiring extensive work.

If no rehab work is needed, we exclude the rehab portion from the loan. For properties requiring renovation, funds are distributed after portions of the work have been completed. For instance, if the renovation is budgeted at $50,000, the borrower may be reimbursed for $15,000 worth of completed work, with further reimbursements made as additional work progresses. The total loan amount, including both purchase and rehab, is generally capped at 65% of the projected after-repair value (ARV).

At West Forest Capital, our goal is to provide you with the financing you need to succeed in real estate investments, ensuring the integrity and security of each transaction. We offer tailored hard money loans that help you meet your investment goals while keeping the deal financially sound.

Our loans are commercial in nature, meaning we provide funding exclusively to LLCs. If you haven’t established an LLC yet, there’s no need to worry, forming a single-member LLC is both simple and quick, and we can guide you through the process.

We base our loan evaluation on two primary financial indicators: the property’s purchase price and its projected after-repair value (ARV). For the best profitability, the purchase price should be at or below market value. If you’re requesting funding for renovations, we’ll assess the repair budget and timeline to ensure the improvements align with your projected ARV.

Before closing, we require a clean, marketable title. Any existing liens, claims, or judgments against the property or your LLC must be resolved before we can proceed. While we are flexible in many areas, we require a solid repayment path and financial structure.

Our focus is on funding deals with strong potential, those where the numbers indicate a profitable outcome after considering purchase costs, rehab expenses, loan interest, and closing fees. Once the financials align, we can quickly help you close the deal with confidence.

When it comes to properties in Bay Shore, NY, hard money loans are often employed in the following scenarios:

• To purchase and renovate a distressed property in Bay Shore, NY that a traditional lender would reject because of its condition or the borrower’s financial history, with the aim of reselling it for a profit. This represents a typical “fix and flip” investment strategy.
• To acquire and refurbish a property in Bay Shore, NY that is not eligible for traditional financing, with the intention of renting it out. Once the property is generating rental income, it may qualify for a conventional refinance.
• To acquire a property in Bay Shore, NY quickly, particularly when time is crucial, such as when bidding on a foreclosure or off-market deal. While traditional banks may take months, a hard money lender can close in a fraction of the time, often within a week.
• To access capital via a fast cash-out refinance using an existing Bay Shore, NY property as collateral.
• To refinance an upcoming balloon payment or an expiring mortgage on a property in Bay Shore, NY.
• To finance extensive repairs or renovations for properties in Bay Shore, NY that traditional lenders are unwilling to finance.
• To purchase a Bay Shore, NY investment property under an LLC structure, which is often declined by traditional banks.