Hard Money Lenders Sarasota, FL
Rates Starting at 10%
West Forest Capital is a prominent hard money lender in Sarasota, FL, providing real estate financing up to $3 million. We’re proud to be known as the fastest lender in Sarasota, ensuring you can access funds quickly in this highly competitive real estate market. Whether you’re working on residential flips or commercial developments, we offer the financing flexibility you need to succeed without delays.
- We are a direct lender, not a broker
- Same day pre-approval
- Funding in 3-5 days, although 1 day is possible
- Loan amounts up to $5 million
Property Types
- Multi-family
- Single-family Investment Properties
- Condominiums
- Apartments
- Co-ops
- Retail
- Small Office Buildings
- Industrial & Warehouse
- Duplex
- Triplex
- Quadplex
- Mixed-Use
Lending Parameters
| Loan Size | $100,000 to $5,000,000 |
| LTC | Up to 80% of purchase price |
| Rehab Funding | 100% |
| LTV | Up to 70% of the ARV |
| Term | Standard is 12 months. 24-36 months is available |
| Lien | First lien; second lien as additional collateral only |
| Interest Rate | 10%–12.5% |
| Points | 1.5–2% of the loan amount |
Counties Covered
West Forest Capital lends in the following locations in Sarasota, FL:
- Sarasota County
- Sarasota
- Venice
- North Port
- Englewood
- Osprey
- Nokomis
- Laurel
- South Venice
- Fruitville
- Siesta Key
Hard Money Loans in Georgia - Areas We Serve
Recently Funded Hard Money Loans
Jersey City, NJ
Newark, NJ
Elizabeth, NJ
Why Use a Hard Money Loan
If you need funding fast. Banks can take months to process your loan, but West Forest Capital offers same-day hard money loan approval and funds within 3-5 days. In urgent situations, we can fund within just 1 day!
If the property isn’t stabilized. It’s not just about time; sometimes banks won’t approve a loan due to the condition of the property. Properties needing rehab, lacking a Certificate of Occupancy (CO), or with weak rental histories are often rejected. West Forest Capital can fund those properties when banks won’t.
If you have poor credit. West Forest Capital knows that your credit score can drop due to unexpected events. We base our loan approval more on the value of the property than your credit score or debt-to-income ratios.
If you don’t want to take a loan in your personal name. Traditional lenders often require loans to be made to individuals who personally own the property. If you want to own through an LLC or own more properties than a bank will finance, a hard money loan is a perfect fit.
Why Choose A Sarasota, FL Hard Money Lender
Our goal is simple: to be the best hard money lender in Florida. We focus on Sarasota, a city that has become a hotspot for real estate investments, especially in luxury properties and vacation homes. We understand the trends driving the Sarasota real estate market, from the demand for waterfront homes to the growing interest in seasonal rentals, and we are dedicated to providing the financing needed to make the most of these opportunities.
In Sarasota, we offer direct hard money financing in neighborhoods like Downtown Sarasota, Lakewood Ranch, and Siesta Key, which are home to some of the most sought-after properties in the area.
Additionally, we provide commercial property financing along high-traffic areas like Main Street and Tamiami Trail, where retail and office spaces are growing in demand. We are also happy to fund your fix-and-flip projects in nearby areas like Venice, North Port, and Bradenton, where the real estate market continues to expand, and renovated properties are highly sought after.
If you’re looking to invest in other areas of Sarasota County, such as Osprey, Nokomis, or Sarasota Springs, we can provide the financial backing you need. These neighborhoods are experiencing rapid development and increased demand for both residential and commercial properties, creating ideal conditions for long-term investment.
Financing your Sarasota, FL Investment Property
Sarasota, FL, has become a highly sought-after market for real estate investors, with a growing economy and an influx of new residents and businesses. The area’s business-friendly environment has fueled an increase in real estate demand, particularly for luxury properties, vacation rentals, and commercial developments. With the rising traffic on Sarasota’s roads, it’s clear that the region offers substantial real estate investment opportunities.
Whether you’re looking to purchase distressed properties, capitalize on value-add opportunities, or invest in stabilized residential and commercial assets, Sarasota, FL offers a range of attractive options. West Forest Capital is here to provide you with the financing needed to succeed in this thriving market, helping you make the most of the growing demand for real estate in Sarasota, FL.
Asset-backed Lender Focused on Customized Solutions
West Forest Capital provides customized financing solutions for Sarasota’s real estate market. We fund loans based on the property value and can offer up to 100% of the purchase price and rehab costs, given additional collateral.
We offer hard money loans up to 3 years, allowing you more time to stabilize and manage your property. This flexible loan term is ideal for investors who need a bridge between short-term hard money and longer-term solutions.
Please give us a call to explore financing options for your real estate investments in Sarasota, FL.
Interview with our client, Mike, in Massachusetts
Listen to our interview with Mike, a software engineer from Massachusetts, who started in real estate to provide himself with some passive income.
Hard Money Lender Sarasota, FL: Frequently Asked Questions
What are hard money lenders?
Hard money lenders are private lending entities that focus primarily on the value of the collateral rather than the borrower’s financial standing. While they and traditional banks both issue mortgage loans, the approval process is far more flexible with hard money lenders. They review the property first and foremost, which significantly shortens the underwriting period, enabling many loans to close within a week instead of the lengthy timelines associated with bank loans.
Investors purchasing distressed real estate or foreclosure properties often depend on hard money loans because auctions require fast and guaranteed closings. These lenders can also finance assets that traditional banks decline, such as properties without a Certificate of Occupancy or those needing major repairs. They offer solutions for borrowers with poor credit as well, since credit scores are not the main concern, and are also used for refinancing existing loans or cash-out transactions.
As one of leading hard money lenders in Sarasota, FL, we are committed to helping investors obtain fast and flexible financing for various real estate projects.
How do hard money loans work?
Sarasota, FL hard money loans are faster than traditional mortgages but carry higher interest rates, generally between 10% and 12%, with 2 points charged at closing. These loans are usually for 1 to 2 years and can come into two parts:
- Funds for the purchase, typically cover 70 to 85% of the purchase price.
- Funds for rehab, if necessary, which may cover up to 100% of the renovation costs.
Sarasota, FL hard money loans, especially for properties requiring rehab, are generally disbursed in arrears, meaning funds are paid out after specific portions of work are completed. For example, if $50,000 is allocated for rehab, the borrower may complete $15,000 worth of improvements before requesting that amount from the lender, continuing this process until the rehab is completed. These loans are frequently used as bridge loans, fix-and-flip loans, or for commercial real estate projects, and they are structured to ensure that the total loan amount, which includes both purchase and rehab, does not exceed 65% of the property’s after-repair value (ARV). Investors in markets like Sarasota, FL, where competition is high, often rely on hard money loans to access funding quickly, enabling them to close deals fast.
What do hard money lenders look for?
A hard money loan is considered a commercial loan, meaning it can only be issued to an LLC, not directly to an individual. However, if you do not yet have an LLC, creating one is a simple process, and it can be done with only one member, yourself. This process is relatively straightforward, allowing investors to easily set up an LLC for securing hard money loans.
Hard money lenders evaluate both the purchase price and the after-repair value (ARV) of the property to determine whether the loan will be repaid. Purchasing a property below or at market value is crucial in securing the loan, as it lowers the risk for the lender. If rehab funds are included, the lender will require that the work is completed on schedule. A clean title is also essential; any existing liens or judgments on the property or LLC must be cleared before loan disbursement.
Lenders are focused on the borrower’s ability to succeed and want to ensure the project is profitable. They will check that the ARV will cover all costs, including the purchase price, rehab expenses, interest, and closing costs, while leaving room for the borrower to make a profit. This ensures that the lender gets repaid and the borrower benefits financially from the investment.
What is hard money used for?
In Sarasota, FL, real estate investors frequently use hard money loans in the following scenarios:
- To purchase and repair a property (including rental properties) that a traditional bank will not lend on (either because of the property itself or because of the borrower’s credit), which will then be sold to a retail buyer. This is commonly called “fix and flip.”
- To purchase and repair a property that a bank will not lend on, which will then be rented out. Once rented, the property will be considered “stabilized,” and may be refinanced with a traditional bank at a lower rate.
- To fund real estate purchases that need to be done in a timeframe that a traditional bank cannot meet (for example, a foreclosure auction). While a hard money lender can often fund the purchase within a week, a bank may take 2 or 3 months or longer.
- To obtain a fast cash-out refinancing using an already-owned property as collateral.
- To quickly refinance another mortgage on the property that is coming due.