New private lending company led by Founder and President Andrew Weissman slashes closing times and cuts paperwork for borrowers seeking quick closings and unconventional deals
In a Market Where Cash is King, Lightspeed Lending Delivers Fast Access to Capital
South Florida Investors Need Cash More than Investors Anywhere Else
BOCA RATON, Fla. — There is no disputing that more than ever, cash is king in real estate. A recent article in Housing Wire doesn’t pull any punches: “Cash buyers are scooping up homes like mad,” blared the headline. Redfin reports that in 2021, 30 percent of home purchases nationwide have been cash deals.
Think that sounds high? That number is even higher in South Florida. West Palm Beach tops the list: fully 52.6 percent of the metro area’s home sales in 2021 have been in cash. Redfin real estate agent Dina Blau, who is based in West Palm Beach, says that the area is no stranger to second-home buyers who put up cash, but this year that trend has skyrocketed as homeowners from the Northeast sold their properties and headed south with their pockets full of cash.
In May, Miami just experienced its best real estate sales month in history, with cash deals representing 38.9 percent of Miami closed sales in May 2021, compared to 25.9 percent in May 2020. Condo sales notched even higher: 48.3 percent of all Miami condo sales were in cash.
But what if you don’t have the cash on hand? How do you compete? Lightspeed Lending provides the answer. Lightspeed Lending caters to real estate investors seeking residential and commercial loans with lightning speed: only 7-10 business days. That’s a fraction of the 45- to 60-day timeframe of a typical conventional loan. And Lightspeed offers convenience: Paperwork is minimal – borrowers don’t have to submit pay stubs, tax returns or W2 forms.
“If you want to act fast, we’re your go-to solution,” says Lightspeed founder and president Andrew Weissman. “In such a competitive market, most buyers are very decisive. Lightspeed Lending helps you close the deal. They say timing is everything with real estate, and our ability to close fast will get you into this hot market right when you want to be there.”
For more information visit www.lightspeedlending.com
About Lightspeed Lending
Founded by Andrew Weissman, an entrepreneur with extensive experience in real estate investment, Lightspeed Lending loans money for residential bridge loans, fix & flip loans, rental loans and construction loans. Offices are located at 499 E. Palmetto Park Road, Suite 226, Boca Raton, FL 33432. For more information, contact Andrew Weissman at 954-444-7928 or visit www.lightspeedlending.com
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