Hard Money Lender in Islip, NY

West Forest Capital serves as a hard money lender, providing private, asset-based loans for real estate investors. Instead of focusing on your FICO score, we concentrate on the asset itself, evaluating each deal by its purchase price and projected after-repair value (ARV). This approach enables us to fund your investment quickly, often in five days or less, a much faster option compared to traditional banks, which may take weeks.

We are the preferred lending partner for investors who need fast, flexible financing options, customized terms, or funding for properties that traditional banks might turn away. We specialize in properties that lack a Certificate of Occupancy, require extensive repairs, or face other challenges. We also work with clients aiming to rebuild credit profiles or those seeking refinancing with short deadlines. As private money partners, we regularly assist with auction purchases and fast-turnaround property flips.

Because our hard money loans are commercial, we extend funding exclusively to LLCs. Forming an LLC is a simple and fast process, even for individual investors. Alongside the LLC structure, we verify a clean title and review the full scope of the project, including rehabilitation timelines, to ensure everything is on track.

For investors who need speed and flexibility, West Forest Capital is the partner you can count on to provide the funding needed to move forward with your real estate deal.

Hard money loans offer a fast and flexible financing option for real estate investors, enabling them to access capital much more quickly than with traditional bank loans. While they provide speed, the trade-off is higher costs. Interest rates generally range between 9% and 12%, with borrowers also facing closing fees of 1 to 3 points. These loans are typically short-term, ranging from one to two years.

Hard money loans typically consist of two main parts: (1) a purchase loan, which usually finances 70% to 85% of the property’s acquisition cost, and (2) a rehab loan to cover necessary repairs and renovations. At West Forest Capital, we are often able to fund the full cost of the rehab when extensive improvements are required.

If no renovations are needed, we simply exclude the rehab portion from the loan. For properties requiring work, funds are dispersed in stages, based on the completion of different phases of the renovation. For instance, on a $50,000 renovation, a borrower might receive $15,000 after completing the first phase, with additional amounts disbursed as the project moves forward. The total loan, including both the purchase and rehab components, is usually limited to 65% of the projected after-repair value (ARV).

At West Forest Capital, we focus on assisting you throughout your real estate investment journey by ensuring each transaction is secure and financially sound. Our aim is to provide customized hard money loans that align with your needs, helping you achieve your investment goals while maintaining the integrity of every deal.

As commercial lenders, we offer funding only to LLCs, not individual borrowers. If you have not set up an LLC yet, don’t worry as creating a single-member LLC is an easy process, and we are happy to guide you through each step to get it done.

Our loan evaluation hinges on two crucial financial factors: the purchase price and the projected after-repair value (ARV). For the highest profitability, we recommend purchasing the property at or below market value. If you’re requesting renovation funds, we will carefully examine your repair budget and timeline to ensure they align with the ARV projections.

Before we can proceed to close, we require a clean and marketable title. Any existing liens, claims, or judgments affecting the property or your LLC must be resolved before funding. While we offer flexibility in many areas, a well-structured repayment plan and solid financial framework are required.

We specialize in funding deals with strong profit potential, those where the numbers support a profitable outcome, after considering all expenses, including purchase costs, renovations, loan interest, and closing fees. Once we verify the financial details, we can move forward quickly, helping you close with confidence.

When it comes to properties in Islip, NY, hard money loans are often used in the following ways:

• To purchase and renovate a property in Islip, NY that a traditional bank would likely reject due to its current state or the borrower’s credit profile, with the aim of reselling it for a profit. This is a typical “fix and flip” strategy that allows investors to capitalize on distressed properties.
• To acquire and renovate a property in Islip, NY that is not eligible for traditional financing, with the intention of renting it out. Once the property is rented and generating stable income, it may qualify for a conventional refinance at a lower interest rate.
• To secure ownership of a property in Islip, NY where time is of the essence, such as during a foreclosure auction or off-market opportunity. Traditional banks may take months to approve such deals, while a hard money lender can close quickly, sometimes in as little as a week.
• To access quick capital through a cash-out refinance by leveraging an existing Islip property as collateral for the loan.
• To refinance a mortgage or balloon payment coming due on a property in Islip, NY, providing flexibility and quick resolution without the delays of traditional bank processes.
• To finance substantial repairs or improvements on a property in Islip, NY that traditional lenders might not support due to its condition or required work.
• To purchase a property in Islip, NY through an LLC, a structure that many banks are hesitant to finance, but one that is ideal for investors looking to protect their personal assets.