Finding the best hard money lenders in Daytona Beach FL is crucial to your real estate investing success. Whether you’re new to real estate investing or you’ve been doing it years, your Daytona Beach hard money loans can end up costing you thousands of dollars if you don’t select your hard money lender carefully. Whether you’re looking for a fix and flip loan or a longer term rental loan for the BRRRR Method, a bad hard money loan can cost you thousands of dollars in profit if you don’t account for things like origination fees, monthly interest, prepayment penalties and more. On the flip side, a favorable hard money loan can provide the financing you need to make a deal possible and successful. Daytona Beach private money lenders can give you the financing you need to secure your deal.
Top 5 Best Hard Money Lenders in Daytona Beach FL
Birchwood Loans
Birchwood Hard money offers Hard money loans for Real Estate Investors in Tampa and surrounding areas. With Birchwood, you will find a fast and easy source of hard money lender funding for your real estate investments. They can finance up to 60% LTV for a period of up to 5 years and provide interest only payments. They can give you an approval within 24 hrs. The paperwork for the closing is typically 3-5 business days.
AHL Hard Money
AHL Hard Money offers the following niche programs: Hard money loans, private money loans, cash out refinance, bad credit loans, home equity loans. According to their website, they specialize in special needs. Whether that be for credit challenged borrowers, the self employed, or other unique circumstances.
Bridgewell Capital
Bridgewell Capital is a hard money lender based in Orlando. They offer rehab loans for flips and for rental properties. They also do multifamily loans and commercial loans.
Here are some of their fix and flip loan terms:
- Up to 100% of rehab costs
- Up to 75% ARV
- Closings in 10 days
- Damaged Credit Okay
- No interest on undrawn rehab funds
- No pre-payment penalty
Civic Financial Services
Our next hard money lender is CIVIC Financial Services. CIVIC is a best-in-class real estate lender that provides fast and simple financing to real estate investors. Whether the intention is to buy a single-family home to flip, to leverage an existing portfolio of rental homes to hold long term, or to acquire multifamily real estate for cash flow, they have a focused team and set of products that empower investors to build wealth through real estate.
A2Z Capital Lending
A2Z Capital Lending is a Florida based hard money lender. They have excellent reviews on Google and a professional website. They’ve been operating in Florida in many years so you can use them confidently.
Unlike traditional bank loans, the ability to obtain hard money financing isn’t determined by the borrower’s credit worthiness. Instead, A2Z Capital Lending uses the value of the property itself in determining whether to make the loan.
FAQ about the Best Hard Money Loans in Daytona Beach
What Do Daytona Beach Hard Money Lenders Charge?
Hard money loan rates in Daytona Beach range from 8-12% for most fix and flip and shorter term loans. Many hard money lenders in Daytona Beach also charge points or origination fees on a loan that range from 1-2.
Do Hard Money Lenders In Daytona Beach Require Appraisals?
With most hard money lenders in Daytona Beach, the loan to value (LTV) is determined through an appraisal or a broker opinion of value.
What Are Hard Money Loans In Daytona Beach?
Hard money loans in Daytona Beach are loans secured by real estate used to purchase or rehab that piece of property. These short term loans are used to purchase and/or rehab residential or commercial properties. They’re usually more expensive than traditional loans but can be closed faster and oftentimes with less credit requirements.
More About Daytona Beach Florida
Daytona Beach is a popular tourist destination located in Volusia County, Florida. It is known for its beautiful beaches, exciting nightlife, and numerous attractions. Here is a detailed review of Daytona Beach, including the best things to do, places to see, food to eat, and more.
Things to Do:
1. Visit the Beach: Daytona Beach is famous for its 23 miles of white sandy beaches. Visitors can enjoy swimming, sunbathing, surfing, and fishing.
2. Daytona International Speedway: This iconic racetrack is home to the Daytona 500, one of the most prestigious NASCAR races in the world. Visitors can take a tour of the speedway and even drive on the track.
3. Ponce Inlet Lighthouse: This historic lighthouse is located at the southern end of Daytona Beach. Visitors can climb to the top for a stunning view of the surrounding area.
4. Daytona Beach Boardwalk and Pier: This popular attraction features amusement park rides, games, and restaurants. Visitors can also fish off the pier.
5. Daytona Lagoon: This water park features water slides, a lazy river, and a wave pool. It is a great place to cool off on a hot day.
Places to See:
1. Museum of Arts and Sciences: This museum features exhibits on art, science, and history. It also has a planetarium and a giant screen theater.
2. Halifax Historical Museum: This museum showcases the history of Daytona Beach and the surrounding area. It is located in a historic building that was once a bank.
3. Jackie Robinson Ballpark: This historic ballpark was the first to host a racially integrated baseball game. It is now home to the Daytona Tortugas minor league baseball team.
4. Marine Science Center: This center features exhibits on marine life and conservation. Visitors can also see sea turtles and other marine animals up close.
5. Daytona Beach Bandshell: This outdoor amphitheater hosts concerts and events throughout the year. It is located on the beach and offers stunning views of the ocean.
Food to Eat:
1. Crabby Joe’s Deck and Grill: This restaurant is located on the Sunglow Pier and offers fresh seafood and stunning ocean views.
2. Aunt Catfish’s on the River: This restaurant is located on the Halifax River and offers Southern-style seafood and barbecue.
3. The Cellar Restaurant: This upscale restaurant is located in a historic building and offers fine dining and an extensive wine list.
4. Steve’s Famous Diner: This classic diner serves breakfast all day and offers a wide variety of comfort food.
5. Ocean Deck Restaurant and Beach Club: This restaurant is located on the beach and offers seafood, burgers, and live music.
Overall, Daytona Beach is a great destination for anyone looking for sun, sand, and fun. With its beautiful beaches, exciting attractions, and delicious food, there is something for everyone to enjoy.