FIX AND FLIP LENDING IN NEW YORK SINCE 2007
No Hassle Fix & Flip | Fix & Hold | New Construction
NEW YORK HARD MONEY LOANS
Hard Money Lending New York – New York State is the 4th most populous state with almost 20 million residents as of 2017. New York City and Long Island together collectively represent 80% of the population of New York State. The next 4 most populous cities in New York State are Buffalo, Rochester, Yonkers, and Syracuse. New York City is the most powerful (economically) city in the world. Having the city at such close range from all areas of the state, make it a desirable area for real estate investment opportunities.
New York’s finance, tourism, export, and infrastructure industries make it a prime area for employment opportunities as well. For NY in 2017, the home flipping rate (% of total sales) was 4.9% and the gross return on investment (ROI) was 67% on average. As of 2017, about 1 in every 1,672 housing units have been foreclosed on, which contributes to greater fix and flip opportunities.
Alpha Funding Partners has been lending hard money to real estate investors in all 5 boroughs, Westchester County, Hudson Valley, and both Suffolk and Nassau counties of Long Island. Our team is well versed and experienced in New York and Long Island’s real estate fix and flip market and is ready to help put together a custom tailored direct hard money lending solution for your next project.
Hard Money Lending in New York– Areas of Focus – All 5 Boroughs (Manhattan, Brooklyn, Bronx, Queens, Staten Island), Westchester, Hudson Valley, and Long Island (Suffolk and Nassau Counties)
FIX AND FLIP IN NEW YORK
Recent Case Study – Funded by Alpha Funding Partners Fix and Flip Hard Money Loans
Flip Details – Fix and Flip Lending New York
- Borrower Profile: Long-time realtor
- City: Staten Island
- State: New York
- Property Type: Fix And Flip – Two-Family Home
- Loan Amount: $125,000
- Purchase Price: $120,000
- Rehab Amount: $25,000
- Borrower Cash in Deal: $30,000
- ARV: $225,000
- LTV: 51%
New York Hard Money Lending Highlights
- Fix & Flip, New Construction, Rental & Commercial Bridge loans available.
- ≤70% Loan to Value based off of the After Repair Value
- No Limitations on Rehab Budget in Relation to Purchase
- Minimum FICO 650
- 12 Month Term
- Loan Must Close in LLC or Corporate Entity
- Quick Closings
- Rates from 8.99% to 11.99% – Interest Only
- Origination Fee 2-3 Points
- All Asset Classes Considered
- Loan Amounts Up To $100,000 – $3,000,000