Finding the best hard money lenders in Sarasota 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 Sarasota 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. Sarasota private money lenders can give you the financing you need to secure your deal.
Top 5 Best Hard Money Lenders in Sarasota 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 Sarasota
What Do Sarasota Hard Money Lenders Charge?
Hard money loan rates in Sarasota range from 8-12% for most fix and flip and shorter term loans. Many hard money lenders in Sarasota also charge points or origination fees on a loan that range from 1-2.
Do Hard Money Lenders In Sarasota Require Appraisals?
With most hard money lenders in Sarasota, the loan to value (LTV) is determined through an appraisal or a broker opinion of value.
What Are Hard Money Loans In Sarasota?
Hard money loans in Sarasota 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 Sarasota Florida
Sarasota, Florida is a beautiful city located on the Gulf Coast. It is known for its stunning beaches, cultural attractions, and delicious cuisine. Here is a detailed review of Sarasota, including the best things to do, places to see, food to eat, and more.
Best Things to Do:
1. Visit Siesta Key Beach: This beach is consistently ranked as one of the best beaches in the world. It has crystal clear water, soft white sand, and plenty of amenities like restrooms, showers, and picnic areas.
2. Explore the Ringling Museum: This museum is dedicated to the legacy of John Ringling, the famous circus magnate. It features a collection of art, circus memorabilia, and beautiful gardens.
3. Take a St. Armands Circle Shopping Trip: This outdoor shopping center is home to over 130 stores, restaurants, and galleries. It is a great place to shop, dine, and people watch.
4. Go on a Dolphin Watching Tour: Sarasota is home to a large population of dolphins, and there are many tour companies that offer dolphin watching tours. It is a great way to see these beautiful creatures up close.
5. Visit the Mote Marine Laboratory and Aquarium: This aquarium is dedicated to marine research and conservation. It features exhibits on sea turtles, sharks, and other marine life.
Places to See:
1. Marie Selby Botanical Gardens: This beautiful garden is home to over 20,000 plants, including orchids, bromeliads, and ferns. It is a great place to relax and enjoy nature.
2. Myakka River State Park: This park is home to a variety of wildlife, including alligators, deer, and birds. It features hiking trails, camping sites, and boat tours.
3. Sarasota Jungle Gardens: This botanical garden is home to over 200 animals, including flamingos, parrots, and primates. It is a great place to bring kids and learn about different animals.
4. Historic Spanish Point: This historic site features a museum, gardens, and archaeological exhibits. It is a great place to learn about the history of Sarasota.
5. Sarasota Opera House: This beautiful opera house is home to the Sarasota Opera. It features a variety of performances throughout the year.
Food to Eat:
1. Columbia Restaurant: This restaurant serves delicious Spanish and Cuban cuisine. It is known for its paella, sangria, and Cuban sandwiches.
2. Owen’s Fish Camp: This seafood restaurant serves fresh seafood in a casual atmosphere. It is known for its oysters, shrimp, and fish tacos.
3. Indigenous: This farm-to-table restaurant serves locally sourced ingredients in creative dishes. It is known for its charcuterie board, duck breast, and chocolate dessert.
4. The Table Creekside: This waterfront restaurant serves American cuisine with a focus on seafood. It is known for its crab cakes, lobster bisque, and key lime pie.
5. Yoder’s Amish Restaurant: This restaurant serves traditional Amish cuisine, including fried chicken, mashed potatoes, and homemade pies.
Overall, Sarasota is a beautiful city with plenty of things to do, places to see, and delicious food to eat. Whether you are looking for a relaxing beach vacation or a cultural experience, Sarasota has something for everyone.