Fix and Flip Loans Waltham
Rates Starting at 10%
West Forest Capital is a Waltham 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 Waltham because we know how critical each day is in Waltham’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 Waltham:
- Brandeis area
- Banks Square
- Piety Corner Historic District
- Angleside
- Lakeview
- The Lanes
- The Highlands
- Cedarwood
- Bleachery
- The Chemistry
- Warrendale
- South Side
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 Waltham, and we take pride in being a local Waltham fix and flip lender. We understand the permit requirements and building regulations in the town, and have even spoken to the city ourselves on numerous occasions.. We can also review your construction budget, provide feedback, and help structure your fix and flip loan to be optimal for your needs as a real estate investor. Additionally, we know many of the contractors and subcontractors in the area, have experience dealing with the city inspectors, and have funded both simple (cosmetic rehab) and complicated (large/structural rehab) fix and flip loans in Waltham, MA.
Financing Your Waltham Investment Property
Waltham is an excellent market to flip homes. The town has really changed in recent years, and with it, the type of housing demand. However, housing stock is on the older side, and any new developments are bought fast. Furthermore, the spread between the purchase price and rehab, and the final sales price is very attractive. This environment creates a competitive market and many real estate investors are looking to capitalize on this trend by completing fix and flip projects in Waltham. Our team at West Forest Capital is ready to not only help you stand out to the sellers by committing funding for a “cash-equivalent” closing but will also be there for you to make sure your fix and flip goes smoothly. Since we only get repaid if you successfully complete the project, it is in our best interest to be flexible and make sure you have the full rehab funding you need.
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 Waltham, MA 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 (for example, larger properties or those that have extensive development plans) that may take a bit more time to complete.
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 excels in providing fix and flip loans, focusing on asset-based lending that values the property rather than credit scores. Unlike traditional banks, we offer quick and dependable funding, ensuring loan approvals and funds are ready within days. Our efficient Waltham system is perfect for investors dealing with properties needing rehabilitation or lacking a Certificate of Occupancy.
How do fix and flip loans work?
With West Forest Capital, securing a fix and flip loan is both simple and efficient. Interest rates range from 9% to 12%, accompanied by additional closing costs. We typically cover up to 85% of the property’s purchase price and 100% of the renovation budget, with funds distributed in stages as the project advances. Our short-term loans ensure that the total financing remains within 65% of the property’s after-repair value (ARV).
What do fix and flip lenders look for?
We specialize in private money lending, primarily providing loans to LLCs instead of individual borrowers. Our process involves assessing both the purchase price and the after-repair value (ARV) to confirm the viability of your investment. We focus on key factors such as acquiring properties at or below market value, adhering to a structured rehab plan, and securing a clear title. Our goal is to help ensure your investment succeeds and that the loan is repaid smoothly.
What is a fix and flip loan used for?
Designed with real estate investors in mind, West Forest Capital’s fix and flip loans are the solution when traditional banks are unwilling to lend. These loans provide the fast funding and flexibility needed to purchase and renovate properties for resale or rent, and are particularly useful for securing auction buys quickly. They also offer options like cash-out refinancing, refinancing existing loans, and buying properties under an LLC—choices that conventional lenders typically don’t support.
What should I consider before applying for a fix and flip loan in Waltham?
Evaluating a property’s profit potential and crafting a detailed renovation plan are vital steps before applying for a fix and flip loan. West Forest Capital, as your private lender, will review the viability and potential profitability of your project. To make the most of your financing, it’s important to grasp the loan terms and ensure they align well with your project’s schedule and financial plan.
How quickly can I access funds once approved for a fix and flip loan?
Once approved, West Forest Capital’s quick funding process sets us apart. Funds for your fix and flip project are usually made available swiftly, allowing you to proceed with the purchase and renovation of your property without unnecessary delays. This streamlined approach has established us as a top choice among flip lenders in the competitive real estate market.
