Finding the best hard money lenders in Lake Magdalene 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 Lake Magdalene 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. Lake Magdalene private money lenders can give you the financing you need to secure your deal.
Top 5 Best Hard Money Lenders in Lake Magdalene 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 Lake Magdalene
What Do Lake Magdalene Hard Money Lenders Charge?
Hard money loan rates in Lake Magdalene range from 8-12% for most fix and flip and shorter term loans. Many hard money lenders in Lake Magdalene also charge points or origination fees on a loan that range from 1-2.
Do Hard Money Lenders In Lake Magdalene Require Appraisals?
With most hard money lenders in Lake Magdalene, the loan to value (LTV) is determined through an appraisal or a broker opinion of value.
What Are Hard Money Loans In Lake Magdalene?
Hard money loans in Lake Magdalene 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 Lake Magdalene Florida
Lake Magdalene is a beautiful lake located in Hillsborough County, Florida. It is a popular destination for locals and tourists alike, offering a variety of activities and attractions for visitors of all ages. Here is a detailed review of Lake Magdalene, including the best things to do, places to see, food to eat, and more.
Things to Do:
1. Fishing: Lake Magdalene is known for its excellent fishing opportunities. The lake is home to a variety of fish species, including largemouth bass, bluegill, and catfish. Visitors can rent a boat or bring their own and spend the day fishing on the lake.
2. Boating: Boating is another popular activity on Lake Magdalene. Visitors can rent a boat or bring their own and explore the lake’s many coves and inlets. The lake is also a great place for water skiing and wakeboarding.
3. Hiking: The Lake Magdalene Trail is a popular hiking trail that winds around the lake. The trail is approximately 2.5 miles long and offers beautiful views of the lake and surrounding landscape.
4. Picnicking: There are several picnic areas located around the lake, making it a great place for a family outing or a romantic picnic.
5. Bird Watching: Lake Magdalene is home to a variety of bird species, including ospreys, herons, and egrets. Visitors can bring their binoculars and spend the day bird watching.
Places to See:
1. Lake Magdalene Dam: The Lake Magdalene Dam is a popular attraction for visitors. The dam was built in the 1920s and is still in use today.
2. Lake Magdalene Park: Lake Magdalene Park is a beautiful park located on the shores of the lake. The park offers a variety of amenities, including picnic areas, playgrounds, and a boat ramp.
3. Carrollwood Village Golf & Tennis Club: The Carrollwood Village Golf & Tennis Club is located near Lake Magdalene and offers visitors the opportunity to play a round of golf or a game of tennis.
4. Lettuce Lake Regional Park: Lettuce Lake Regional Park is a beautiful park located near Lake Magdalene. The park offers hiking trails, picnic areas, and a boardwalk that winds through a cypress swamp.
Food to Eat:
1. The Brunchery: The Brunchery is a popular breakfast and brunch spot located near Lake Magdalene. The restaurant offers a variety of delicious breakfast dishes, including omelets, pancakes, and waffles.
2. The Fish House: The Fish House is a seafood restaurant located near Lake Magdalene. The restaurant offers a variety of fresh seafood dishes, including shrimp, crab, and fish.
3. The Cheesecake Factory: The Cheesecake Factory is a popular chain restaurant located near Lake Magdalene. The restaurant offers a variety of delicious dishes, including pasta, burgers, and of course, cheesecake.
4. Mellow Mushroom: Mellow Mushroom is a pizza restaurant located near Lake Magdalene. The restaurant offers a variety of delicious pizzas, as well as salads and sandwiches.
Overall, Lake Magdalene is a beautiful destination that offers a variety of activities and attractions for visitors of all ages. Whether you’re looking to fish, boat, hike, or simply relax and enjoy the scenery, Lake Magdalene has something for everyone.