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 Solutions 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.