Real estate investors in New York that are fixing and flipping properties in the city and on Long Island are always on the look out for new hard money lenders in New York. There are not many companies that offer rehab or arv programs if you survey the leading hard money lenders in New York. Most of the hard money lenders in NYC don’t lend based on the ARV or after repair value, but rather they lend 50-60% of the purchase price only with the borrower puting up to 50% down and paying for their own rehab on the property. This is where NLDS Corp comes in.
Our ARV or rehab program is one of the most aggressive programs in the market right now. We lend 90% of the purchase price and 100% of the rehab costs as long as those numbers don’t exceed 60% of the after repair value (arv). We offer these loans for 1 year with no pre-payment penalty to well qualified borrowers and experienced rehabbers. Most hard money lenders in New York have been lending for a long time and still go by the old “rules” of hard money lending which is no credit or income requirements in exchange for a large down payment. This program allows invesotrs to leverage their capital, rather than sink all of their funds into one deal at a time.