Hard Money Lending in New York
New Construction, Rehab, Bridge Loans
Located an hour-and-half from NYC we are a direct balance sheet lender specializing in funding loans that require speed and surety of execution. Our hard money loans in NY offer twelve-month, interest only private funding for the following programs: new construction, rehab, and bridge.
- New Construction
- Rehab
- Bridge Loans
Advest – Private Hard Money Lender In NY
Most of the principals at Advest are from New York and we take pride in understanding the market. The New York rea estate market is competitive and ever-evolving.
Whether you’re seeking hard money real estate loans to completely renovate a multi-family dwelling in Queens, a bridge loan in Albany, or to remodel an outdated suburban home in Scarsdale, we understand what you need to be successful. There are unique opportunities in this state and real estate investors are taking advantage of them every day.
As a hard money lender in New York, we pride ourselves on the local relationships we have cultivated with the top appraisers, attorneys, and title agents in the NY area.
Success Story
Dutchess County, NY: Ground-Up Construction
Purchase Price: $200,000 (Land)
Renovation Budget: $950,000
Loan Amount: $1,000,000
Loan Structure: 12 Months, Interest Only
Your NY Lender for Hard Money
New Construction
The main benefit of private construction loans from hard money lender like Advest is speed to close and flexible underwriting. New construction loans are available only to experienced investors, contractors, and builders, who typically can borrow up to 70% of the as-completed value.
Since we are intimately familiar with the New York market, we have the local touch other lenders lack. With our understanding of the market, we move faster and have developed strong relationships with builders in NY.
Fast Fix and Flip Financing
The housing stock in New York is growing older with every passing year. The greatest period of home construction in NY was post World War II as soldiers returned home from the war. New York has the oldest housing stock in the country with the median age of a home at 63 years. Older homes often lack features buyers expect to see like spacious kitchens, open floor plans, and walk-in closets. Our talented group of fix and flip borrowers have the vision to transform a property into a highly marketable sale-ready home.
Bridge Loans
In the world of real estate, a bridge loan is a type of loan that “bridges” the gap between short-term cash needs and permanent financing. Since bridge loans can usually be funded in two weeks or less, NY real estate investors have increasingly turned to them over the years. Advest funds many stabilized rental properties in NY where the investor needs to close quickly since permanent financing will not be available before the closing date.
We have funded a lot of bridge loans in New York over the years so we are familiar with the various markets and can save the real estate investor time and money.
Your Local New York Private Money Lender
With our knowledge of the New York real estate market, Advest can structure loans that fit your funding needs. From a multi-family rental property in Rochester to luxury fix and flips in Plainview, we understand how to tailor New York loans to match your specific project in these distinctly different markets. If you’re looking to use our NY private money for real estate investments, contact us today.