The COVID-19 pandemic triggered an acceleration of a population trend that has already been in place for years in Palm Beach County. This has made the market even more attractive to investors. By having cash on hand, buyers can provide a significant advantage when bidding on real estate properties. But not everyone has cash readily available, which is where a hard money loan can help. Hard money loans act as cash to help you purchase the property you need.
Specifically, a hard money loan with a local hard money lender can:
Eliminate the need for traditional bank financing. In Palm Beach County, bank financing can take upwards of 3 to 5 months.
Easily process to get loans approved. Due to the high demand and many deals to choose from, banks in Palm Beach County can be extremely difficult in approving loans. They also often take a more stringent approach when reviewing underwriting documents. With a hard money loan from West Forest Capital, the application and approval process is simple and straightforward.
Take advantage of local fix and flip opportunities. There is a specific advantage to fix and flip deals in Palm Beach County. Many of the end buyers moving to the area are new to South Florida and therefore, lack the knowledge of local contractors and sub-contactors, material suppliers, and regulations needed to complete a rehab project. Therefore, the fix and flip premium is higher in Palm Beach County than in other places around Florida and the country as a whole.
Funds available for properties requiring significant repairs. This is something that makes hard money loans unique, as traditional banks will not lend on properties that need repairs or are fix and flip targets.
At West Forest Capital, we pride ourselves on being local to Palm Beach County, having a strong capital position, and can close fast.
Get Your Hard Money Loan in Palm Beach County with West Forest Capital
There’s never been a better time to apply for a hard money loan in Palm Beach County. West Forest Capital provides funds to real estate investors and others looking to finance non-owner-occupied real estate. We fund property types which include:
We provide rehab funds, or full construction costs, as needed. We also provide fast closings, almost always less than 10 days, and often as quick as 3 to 5 days. We’ve even previously closed a brand new loan in one day! In addition to Florida, we lend in New Jersey, New York, Connecticut, Massachusetts, and Pennsylvania.
To get started with your hard money loan, please call us at 212-537-5833 or text us at 917-267-9523.