Property investors in West Palm Beach, FL are very familiar with the challenges of trying to secure funding through traditional lending channels. Lenders have their own specific chain of command, which can cause delays and prevent property investors from taking advantage of transactions with small windows of opportunity, and cause projects to grind to a halt. Finding a lender in Florida who understands both hard money loans as well as local property markets can give investors an edge, if they know where to look and what to ask for.
Hard Money Loans for Flipping Houses
Right now, the fix and flip market is seeing tremendous growth in the Palm Beach area. However, because property flippers operate on a tight schedule, navigating the red tape of traditional lending channels is out of the picture. Instead, property flippers in West Palm Beach, FL utilize hard money loans to purchase and renovate properties quickly. With fast closings and generous terms, hard money loans provide the financing necessary to keep fix and flip projects on track. Hard money loans enable West Palm Beach area flippers to close quickly on properties and move the debt into a long-term product through refinancing. Because hard money loans have interest-only payments, local property investors are able to use the bulk of the funding for renovations and listings. In short, hard money loans are extremely efficient and allow property flippers to keep their projects on track.
Using Hard Money Loans for Other Purposes
Hard money loans are not just for fix and flip projects. Commercial real estate investors throughout West Palm Beach, FL use hard money loans for a wide range of purposes, such as renovating multifamily residences; purchasing properties; short sales; new construction; real estate owned (REO) by a bank or other institution, and even unique commercial real estate projects in West Palm Beach. Hard money loans are also less arbitrary than traditional loans, because hard money loans are structured around the value of the property in play, as opposed to in-depth earning histories or other assets. Hard money loans are easy to access and are a staple for property investors throughout Florida.
At HML Solutions, we offer hard money loans tailored to the needs of property investors in West Palm Beach, FL. Whether you are lining up a fix and flip project, or you have something unique on deck, our team will work with you to provide the financing you need quickly and efficiently. Contact HML Solutions today to get started.