Fix and Flip Loans Malden
Rates Starting at 10%
West Forest Capital is a Malden fix and flip lender, financing real estate investments up to $5 million. We have gained a reputation as the fastest fix and flip lender in Malden because we know how critical each day is in Malden’s competitive real estate market.
- 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 |
Neighborhoods Covered
West Forest Capital lends in the following neighborhoods in Malden:
- Bellrock
- Edgeworth
- Faulkner
- Ferryway
- Forestdale
- Linden
- Maplewood
- West End
Recently Funded Fix and Flip Loans
Medway, MA
- Location: Medway, MA
- Original Purchase: $225,000
- Current Value: $290,000
- Loan Amount: $200,000
- Exit Strategy: Refinance
- Investor Capital: $25,000
- Equity Created: $65,000
- Investor Return on Capital: 160%
This Massachusetts hard money loan was a cash-out refi, the proceeds of which were used by our client to build-out ancillary commercial space that is owned by our client in the same building. The subject property, a residential condo, was purchased for $225,000 and appreciated to $290,000. Utilizing a hard money loan in Medway, MA we were able to provide a cash-out $200,000 loan at 78% LTV by including the commercial space as additional collateral. The borrower was able to pull the vast majority of his investment out of the property, leaving only $25,000 in the deal, and generating a 160% return. Our loan was later refinanced by a traditional bank.
Dedham, MA
- Location: Dedham, MA
- Purchase Price: $412,000
- Rehab Budget: $47,000
- Loan Amount: $288,400 at Closing + $47,000 Rehab = $335,400
- ARV: $565,000
- Exit Strategy: Sale
- Investor Capital: $123,600
- Equity Created: $106,000
- Investor Return on Capital: 86%
This Boston area hard money loan was used to fix and flip a single-family house. The home was purchased after several rounds of negotiations and needed a new kitchen, bathrooms, and various cosmetic touch-ups. We provided 70% of the purchase price and 100% of the rehab costs. Our client, who had completed two other flips in the previous three years, was able to move through the project quickly. Within 4 months the entire rehab had been completed and the property was listed for sale. Demand was strong, and the property went into contact within three weeks of the listing date. Two months later, the property was sold and our loan repaid.
Boston, MA
- Location: Boston, MA
- Purchase Price: $1,370,000
- Rehab Budget: Not required
- Loan Amount: $890,500
- Exit Strategy: Refinance
- Investor Capital: $479,500
- Equity Created: $150,000
- Investor Return on Capital: 31.3%
This hard money loan was made to a foreign national purchasing a two-bedroom condo in the Back Bay neighborhood. With a light credit history and no US income, our client was not eligible for a traditional bank loan for this investment property. However, the client was able to put down a 35% down payment, and we utilized a Boston hard money loan to fund the remaining 65%. This loan also included a 6-month interest reserve. The property needed no rehab and was quickly rented out. After demonstrating 9 months of rental history, our client was able to refinance our loan into a long-term fixed DSCR loan.
Why Use a Fix and Flip Loan
- If You Need Rapid Funding: Unlike traditional banks that may take months to process your loan application, West Forest Capital offers same-day approval for fix and flip loans, with funding available in just 3-5 days. In urgent cases, we can even provide funding within 24 hours.
- Because the Property Requires Renovation: Traditional banks often shy away from financing properties that need rehab, lack a Certificate of Occupancy (CO), or have other issues. West Forest Capital specializes in funding fix and flip loans for properties that do not meet standard banking criteria.
- If You Have Less-Than-Perfect Credit: At West Forest Capital, we understand that situations come up in life that might impact credit. That’s why we focus on the property’s value rather than your credit score when underwriting the loan.
- It’s Investment Real Estate: Typically, banks require loans to be made to individuals. But you are purchasing the fix and flip as an investment and it should be treated as such by being in an LLC. This way, you get all of the benefits of owning an LLC, and the loan is structured as a business-purpose loan to your LLC.
Why Choose Us For Your MA Fix and Flip Loans
We love helping real estate investors who are doing fix and flip projects in Malden, and we take pride in being a local Malden fix and flip lender. We understand the permit requirements and building regulations in the town of Malden and the surrounding areas. We can also review your construction budget, provide feedback, and help structure your fix and flip loan. Additionally, we know many of the contractors in the area, have experience dealing with the city inspectors, and have funded fix and flip homes that would not have qualified for conventional financing.
Financing Your Malden Investment Property
Malden is an excellent market to flip homes. The demand is there, and the housing stock is on the older side, leading to lots of room for developers to offer a differentiated newer product. Furthermore, the spread between the purchase price plus rehab cost, and final after repaired value is wide. At the same time, this phenomenon creates a competitive market and many real estate investors are looking at Malden to do a fix and flip project. Our team at West Forest Capital is ready to not only help you stand out by committing cash-equivalent funding for your offer, but will also make sure your fix and flip goes smoothly. Your success is truly our success (otherwise we don’t get repaid on the loan), so we are working towards the same goal.
Asset-backed Lender Focused on Customized Solutions
We are guided by the current “as-is” market value, the renovation costs, and the “after-repaired value.” We are easy to work with and typically provide a large amount of the purchase price and 100% of the rehab costs. We are also flexible: if you do the construction out of order from your original schedule, or have a budget overrun, we will work with you to make sure your fix and flip in Malden is successful
West Forest Capital also offers the longest fix and flip loan available on the market (2 years), which is a great option for those projects that may take a bit more time.
Call us today and let’s talk about your loan scenario. Most likely, we will be able to fund you.
Frequently Asked Questions
What are fix and flip lenders?
West Forest Capital is a top-tier lender specializing in fix and flip financing, offering asset-based loans that prioritize the value of the property over the borrower’s credit. Unlike conventional lenders, we provide fast and reliable funding, with approvals and funds delivered in just days. Our streamlined process in Malden is ideal for investors working on properties that require extensive rehab or are missing a Certificate of Occupancy.
How do fix and flip loans work?
West Forest Capital makes it easy to get a fix and flip loan, offering a straightforward process with interest rates between 9% and 12%, plus closing fees. We generally finance up to 85% of the property’s purchase price and the entire renovation cost, with funds released in phases as the work progresses. Our short-term loans are designed so that the total amount borrowed does not exceed 65% of the property’s after-repair value (ARV).
What do fix and flip lenders look for?
As a private money lender, we focus on lending to LLCs rather than individual investors. Our process involves a thorough evaluation of both the purchase price and the after-repair value (ARV) to ensure the investment has strong potential. We emphasize crucial aspects like purchasing properties at or below market value, sticking to an established rehab timeline, and verifying a clear title. Our mission is to support your investment endeavors and facilitate a successful loan repayment.
What is a fix and flip loan used for?
West Forest Capital offers fix and flip loans specifically designed for real estate investors, particularly when traditional banks hesitate. These loans deliver the quick funding and flexibility necessary for purchasing and renovating properties, making them suitable for reselling, renting, or snapping up auction deals. They also facilitate cash-out refinancing, refinancing current mortgages, and acquiring properties under an LLC, which are options often limited by traditional banks.
What should I consider before applying for a fix and flip loan in Malden?
Before seeking a fix and flip loan, it’s crucial to assess the property’s profit potential and develop a solid renovation strategy. At West Forest Capital, we evaluate the feasibility and profitability of your project as a private lender. To maximize the benefits of financing with flip lenders, it’s essential to fully understand the loan terms and ensure they match your project’s timeline and budget.
How quickly can I access funds once approved for a fix and flip loan?
After your loan is approved, West Forest Capital’s expedited funding process shines. The funds needed for your fix and flip project are typically disbursed quickly, enabling you to acquire and renovate your property without any significant delays. This swift process reinforces our reputation as a leading flip lender in the competitive real estate market.
