Hard Money lenders Brooklyn, NY

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LendingOne – Best Hard Money lenders near Brooklyn

LendingOne is a New York private money lender offering short-term mortgage loans to real estate investors in NY - AlbanyAmherstBronxBrooklynBuffaloManhattanNorth HempsteadQueensRochesterStaten IslandSyracuseYonkers. Get a private money loan for a property purchase, refinance, equity cash out, rehab or new construction purchase.

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Hard Money lenders near Brooklyn, NY

For investors looking for real estate financing near Brooklyn, NY for their investment deals, finding the right hard money lender or private money lender is essential. Locating a hard money lender in your state who understands the Brooklyn, NY local market for fix and flip or rental deals will make it even easier.

What is a Hard Money Loan?

A hard money loan is a type of loan that is issued to investors based on the “hard asset” or the property itself. While hard money lenders do take into consideration additional factors like the individual borrower’s credit, experience, and income, these are not as high a priority when determining the borrower’s eligibility and loan amount. Hard money loans typically come with much higher interest rates, sometimes anywhere between 8% and 14% and have shorter terms of around 12 months. This is a much quicker form of funding, with loans capable of being issued within days to weeks instead of months.

Who Provides Hard Money Loans in Brooklyn, NY?

Hard money loans are funded through private investors, smaller companies and businesses near Brooklyn, NY. Traditional lenders such as banks will not issue hard money loans.

Brooklyn Hard Money Real Estate Market

Foreclosure Rates for Brooklyn, NY

Investors who want to find deals from foreclosure properties can consider these statistics to understand the Brooklyn real estate market for pre-foreclosures, auctions, and bank-owned properties.

Get 5 Steps Closer To Growing Your Fix and Flip Business near Brooklyn

  • Advice on searching for a property to fix and flip
  • Ways to get organized before beginning
  • What to expect during the project
  • Recommendations for when you’re ready to sell
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Sales Prices for Brooklyn

Real estate sales in Brooklyn still support an active fix/flip market. You want to closely monitor your average days on the market because when you are flipping properties, this is the best indicator of how long it will take you to sell once the property is completed.

Rental Prices for Brooklyn

In every market around the country where we lend, rental yields will differ. In areas where average prices are higher rental yields will almost always be lower than markets with a lower average sale price. To determine your rental investment property yield you can take the average rental rate in the chart above and divide it by the average sale price.

Driving Factors for the Brooklyn Real Estate Market

Education: Brooklyn is home to one of the highest educated workforces in the country, greatly due in part to the surrounding top ranking schools in the Brooklyn, NY area.
Economy: Brooklyn’s top employers are driving growth in the real estate market including General Hospital.
Businesses: According to the Brooklyn Chamber of Commerce, Leisure & Hospitality, Professional & Business Services, and Education & Health Services have seen high job and wage growth.