# New York Fix and Flip Loans: full site content > Hard money, fix and flip and DSCR rental loans for New York City, Long Island and Westchester real estate investors. The New York division of Optimus Capital Corp (https://www.optimuscapitalcorp.com/), a relationship-driven lender for real estate investors founded in 2015. Business-purpose loans on non-owner-occupied investment property only. Phone (954) 598-4564. Email andrew@optimuscapitalcorp.com. Last updated 2026-11-06. --- Source: https://newyorkfixandfliploans.com/ Title: Hard Money & Fix and Flip Loans in New York Summary: Hard money and fix and flip loans in New York City, Long Island and Westchester: 90% of purchase, 100% of rehab. DSCR rental loans to 85% LTV, no tax returns. # Hard money and fix and flip loans in New York New York Fix and Flip Loans finances brownstone and row house renovations, two- to four-family homes, rentals, small multifamily and new construction in all five boroughs, Long Island and Westchester. Fix and flip loans cover up to 90% of the purchase and 100% of the rehab, and rental loans are approved on the rent, not your tax returns. [Get pre-qualified](https://newyorkfixandfliploans.com/get-pre-qualified/) Call (954) 598-4564 The New York division of Optimus Capital Corp. Business-purpose loans on non-owner-occupied investment property only. ## Loan terms at a glance Flip: purchase financed | up to 90% Flip: rehab financed | up to 100% Flip: limit on after-repair value | 70 to 75% Rental purchase | up to 85% LTV Rental cash-out | up to 80% LTV Ground-up construction | up to 90% of cost Minimum credit score | 600 Loan amounts | $75K to $10M+ Top fix and flip leverage is for credit scores of 720 and up, and a flip loan can close in about 7 days. Rental loans are approved on the property’s rent and take about 30 days. Construction at 90% of cost is for experienced builders. New York Fix and Flip Loans is the New York division of Optimus Capital Corp, a nationwide hard money lender that works only with real estate investors. It is run by Andrew Shanti, who has worked in lending and real estate since 2005. We lend only on non-owner-occupied property: flips, rentals and new builds. [Investment property loans in New York](https://newyorkfixandfliploans.com/investment-property-loans-new-york/) [Meet Andrew](https://newyorkfixandfliploans.com/about-us/) ## Fix and flip loans built for New York housing Much of the city’s housing is a century old: brownstones and row houses in Brooklyn and Harlem, two-family homes in Queens and the Bronx, and frame houses on Staten Island and Long Island. A dated house with new systems, a new layout and legal units can sell for far more. Our fix and flip loans fund most of the purchase and all of the work. ### Buy and renovate Up to 90% of the purchase price and 100% of the rehab budget at a 720+ credit score, limited to 70 to 75% of the after-repair value. Scores down to 600 qualify at lower leverage. ### Interest only, no penalty Terms of 6 to 24 months with interest-only payments. Pay the loan off the day you sell, with no prepayment penalty. ### Experienced flippers Investors with 5 or more flips in the past 2 years can close without an inspection or appraisal, up to 75% of the after-repair value. Keeping the house instead? When the work is finished, a [DSCR rental loan](https://newyorkfixandfliploans.com/dscr-rental-loans/) can replace the flip loan, with a cash-out refinance at up to 80% loan-to-value. [See fix and flip terms](https://newyorkfixandfliploans.com/fix-and-flip-loans/) [Get pre-qualified](https://newyorkfixandfliploans.com/get-pre-qualified/) ## Everything we finance Every loan is a business-purpose loan secured by investment real estate. Terms run from 6 months to 30 years. Program | Use it for | Top leverage | Approved on [Fix and flip loans](https://newyorkfixandfliploans.com/fix-and-flip-loans/) | Purchase plus renovation of a property you intend to sell | 90% of the purchase price and 100% of the rehab, up to 70 to 75% of after-repair value | The deal: price, rehab budget and resale value [DSCR rental loans](https://newyorkfixandfliploans.com/dscr-rental-loans/) | Purchase or refinance of long-term rentals, two- to four-family homes, condos and small multifamily | 85% loan-to-value to buy, 80% on a cash-out refinance | Whether the rent covers the payment [Ground-up construction loans](https://newyorkfixandfliploans.com/new-construction-loans/) | Building a home, a two- or three-family or a small apartment building, lot included | 90% of cost for experienced builders, up to 70 to 75% of the finished value | Budget, finished value and your building record [Mid-rehab loans](https://newyorkfixandfliploans.com/hard-money-loan-programs/#mid-rehab) | Completing a renovation or build that has run short of funds | The current as-is value plus the cost to finish | As-is value and remaining scope [Portfolio loans](https://newyorkfixandfliploans.com/hard-money-loan-programs/#portfolio) | A group of rentals under one note and one payment | 80% to buy or refinance, 75% on a cash-out | Rent across the whole group [Commercial loans](https://newyorkfixandfliploans.com/hard-money-loan-programs/#commercial) | Multifamily, mixed-use, hospitality, office, industrial and retail | Priced per deal | The property and its income Actual leverage depends on credit, track record, property type and location. Loans start at $75,000. ## From first call to closing - Tell us about the dealAddress, price, the renovation budget or the rent it earns, and whether you plan to sell or hold. A call or the short form is enough. - See your termsWe run the numbers and tell you the leverage and pricing available. As a rule there is nothing to pay upfront. - Appraisal and reviewThe appraisal is ordered and you pay the appraiser directly. Investors with 5 or more flips in the past 2 years can skip the inspection and appraisal on a flip. - Close with your attorney and title companyRental loans take about 30 days, appraisal included. Fix and flip loans average up to 21 days and can close in about 7 days once title and insurance are ready. In New York, each side is represented by an attorney and a title company insures the title. ## What clients say about Andrew Andrew Shanti with Optimus Capital has been exceptional to work with. Over the past several years, I have closed numerous transactions with Andrew on behalf of sophisticated real estate investors, and his performance has been consistently outstanding. [...] Every transaction I have been involved with Andrew at Optimus Capital has closed, including many requiring thoughtful structuring and creative solutions due to their challenging nature. Maria McKee, Premier Sotheby’s International Realty, Google review of Optimus Capital Just completed a rental portfolio refi with Optimus. Andrew and Daisy were amazing to work with and helped me work through every challenge quickly and with clear understanding. Zachary Hagan, Google review of Optimus Capital These reviews were left for Optimus Capital, our parent company, about Andrew Shanti. [Read all of the Optimus Capital reviews on Google](https://www.google.com/maps?cid=16792545801423268972). ## Property and borrowers we work with ### New York investment property - Brownstones, row houses and frame houses to renovate and resell - Two- to four-family homes - Long-term rentals - Condos, including non-warrantable condos - Small multifamily and mixed-use buildings - New construction and gut renovations ### Commercial property - Multifamily - Mixed-use with retail below - Hospitality - Professional office - Industrial - Retail ### Who can borrow - New investors and seasoned ones - Credit scores of 600 and above - Out-of-state owners and LLCs - Foreign nationals, on rental loans - Investors with any number of existing loans We do not finance a home you will live in, or co-op shares. For a primary residence, talk to a conventional mortgage broker. ## Lending across New York We finance investment property in Brooklyn, Queens, the Bronx, Manhattan and Staten Island, in Nassau and Suffolk counties on Long Island, and in Westchester County. - [Brooklyn, NY](https://newyorkfixandfliploans.com/brooklyn-ny/) - [Queens, NY](https://newyorkfixandfliploans.com/queens-ny/) - [The Bronx, NY](https://newyorkfixandfliploans.com/bronx-ny/) - [Manhattan, NY](https://newyorkfixandfliploans.com/manhattan-ny/) - [Staten Island, NY](https://newyorkfixandfliploans.com/staten-island-ny/) - [Nassau County, NY](https://newyorkfixandfliploans.com/nassau-county-ny/) - [Suffolk County, NY](https://newyorkfixandfliploans.com/suffolk-county-ny/) - [Westchester County, NY](https://newyorkfixandfliploans.com/westchester-county-ny/) - [All service areas](https://newyorkfixandfliploans.com/areas-we-serve/) ## Questions investors ask us ### Who is the best lender for a fix and flip in New York? Look for a lender that funds most of the purchase and all of the renovation, closes quickly, and builds New York’s closing taxes, permits and landmarks review into the plan. We lend up to 90% of the purchase and 100% of the rehab, and lend only on investment property. [How to choose a lender](https://newyorkfixandfliploans.com/investment-property-loans-new-york/). ### Can I finance a New York City house to rent on Airbnb? New York City’s Local Law 18 allows a short-term rental only when the host lives in the home, is present during the stay, has registered with the Mayor’s Office of Special Enforcement, and hosts no more than two guests. Renting out a whole house or apartment for less than 30 days is not allowed, so investor-owned property in the city is underwritten on long-term rent. Towns on Long Island and in Westchester set their own rules, and many require a permit or limit short stays. ### Do you check my income? No. A flip or construction loan is approved on the deal, and a rental loan on the rent the property earns. There is no employment or debt-to-income review. ### What credit score do you need? Programs begin at a 600 score. The best fix and flip terms are for scores of 720 and up, and a rental purchase at 600 is limited to 70% loan-to-value. ### Do you lend on Long Island and in Westchester? Yes. We lend throughout Nassau, Suffolk and Westchester counties as well as all five boroughs of New York City. ### How fast can a loan close? Rental loans take about 30 days, appraisal included. Fix and flip loans average up to 21 days and can close in about 7 days once title and insurance are ready. [See every question](https://newyorkfixandfliploans.com/faq/) ## Have a New York deal in mind? Run it by us. Send the address, the price and what you plan to do with the property. We will reply with the leverage and pricing that fit your deal. - Call (954) 598-4564 - Email andrew@optimuscapitalcorp.com - [Get pre-qualified online](https://newyorkfixandfliploans.com/get-pre-qualified/) --- Source: https://newyorkfixandfliploans.com/investment-property-loans-new-york/ Title: Investment Property Loans New York | Non-Owner-Occupied Summary: Non-owner-occupied property loans in New York City, Long Island and Westchester: fix and flip, DSCR rental and construction financing. No tax returns. [Home](https://newyorkfixandfliploans.com/) / Investment property loans # Investment property loans in New York Financing for non-owner-occupied real estate: houses to renovate and resell, long-term rentals, two- to four-family homes, condos, small multifamily and new builds in New York City, Long Island and Westchester. Investment property is the only kind of lending we do. [Get pre-qualified](https://newyorkfixandfliploans.com/get-pre-qualified/) Call (954) 598-4564 ## Non-owner-occupied loan terms Fix and flip | 90% purchase, 100% rehab Rental purchase | up to 85% LTV Rental cash-out | up to 80% LTV Ground-up construction | up to 90% of cost Credit scores from | 600 Loan amounts | $75K to $10M+ Top leverage depends on credit, track record and property type. We do not finance a home you will live in. ## What a non-owner-occupied loan is A non-owner-occupied property is one the borrower does not live in: a house bought to renovate and sell, a two-family leased by the year, a condo held as a rental, or a lot where a building will go up. Lenders treat these as business-purpose loans, and the rules differ from the mortgage on a primary residence. New York Fix and Flip Loans lends only on non-owner-occupied property. We are the New York division of Optimus Capital Corp, a nationwide lender that works only with real estate investors, and the division is run by Andrew Shanti, who has worked in lending and real estate since 2005 as a principal, executive and investor. ## How to choose a lender for a New York investment property The right lender depends on what you plan to do with the property. Three kinds of lender finance investment real estate, and each one approves the loan on something different. Lender type | Approves the loan on | Fits best Bank or conventional mortgage | Your tax returns, employment and debt-to-income ratio | Borrowers with strong documented income and only a few financed properties DSCR lender | Whether the rent covers the payment | Long-term rentals and condos, self-employed investors, LLC borrowers and investors with many loans Hard money or bridge lender | The deal: price, budget and finished value | Fix and flips, gut renovations, ground-up construction and purchases that have to close quickly We offer the second and third kinds. For a home you will live in, a conventional mortgage broker is the right place to go. ## Questions to ask before you pick a lender New York property comes with costs and rules that some lenders handle poorly. These questions sort out quickly who can close your deal. - Will you fund the whole renovation? We finance up to 100% of the rehab budget at a 720+ score, paid in draws as work is finished. - Do you account for the mortgage recording tax? New York City charges a mortgage recording tax when a loan is recorded. On one- to three-family homes and condos the borrower’s share is about 1.8% of a loan under $500,000 and 1.925% at $500,000 or more. On commercial property and buildings of four or more units it is 2.8% at $500,000 or more. Outside the city the rate is lower and varies by county. - Do you account for transfer and mansion taxes? On a New York City sale the seller customarily pays the city transfer tax, 1% of the price up to $500,000 and 1.425% above that on one- to three-family homes and condos, and 1.425% or 2.625% on other property. The seller also pays the state transfer tax of 0.4%, which rises to 0.65% on homes of $3 million or more and on other property of $2 million or more. Buyers of one- to three-family homes and condos at $1 million or more pay the mansion tax, starting at 1%. - Can you close with tenants in place? Many apartment buildings of six or more units built before 1974 are rent stabilized, and since 2019 state law has made it very hard to deregulate an apartment or raise the rent for improvements. Good Cause Eviction, in effect in New York City since 2024, limits rent increases and evictions in most market-rate rentals. Exemptions include owners of 10 or fewer units statewide, buildings first occupied on or after January 1, 2009, and units renting above 245% of fair market rent. - Do you understand the rental rules? New York City’s Local Law 18 allows a short-term rental only when the host lives in the home, is present during the stay, has registered with the Mayor’s Office of Special Enforcement, and hosts no more than two guests. Renting out a whole house or apartment for less than 30 days is not allowed, so investor-owned property in the city is underwritten on long-term rent. Towns on Long Island and in Westchester set their own rules, and many require a permit or limit short stays. - Do you lend on co-ops? Co-op apartments are shares in a corporation, not real property, and boards set their own rules on investors, subletting and financing. Investor loans like ours are made on one- to four-family homes, condos, multifamily and mixed-use buildings, not on co-op shares. - Will you check my personal income? We do not. There are no tax returns and no employment or debt-to-income review. - Can I close in an LLC, and from out of state? Yes. We lend to LLCs and to out-of-state owners, and to foreign nationals on rental loans. - How fast can you close? Rental loans take about 30 days, appraisal included. Fix and flip loans average up to 21 days and can close in about 7 days once title and insurance are ready. ## What we finance in New York - [Fix and flip loans](https://newyorkfixandfliploans.com/fix-and-flip-loans/): up to 90% of the purchase price and 100% of the rehab at a 720+ credit score. - [DSCR rental loans](https://newyorkfixandfliploans.com/dscr-rental-loans/) for two- to four-family homes, condos and small multifamily: up to 85% loan-to-value to buy and 80% on a cash-out refinance, fixed for 5 to 30 years. - [Ground-up construction loans](https://newyorkfixandfliploans.com/new-construction-loans/): up to 90% of cost for experienced builders, with the lot included. - [Mid-rehab, portfolio and commercial loans](https://newyorkfixandfliploans.com/hard-money-loan-programs/) for projects that need capital to finish, groups of rentals, and multifamily or mixed-use property. For neighborhood notes and local rules, see [Brooklyn](https://newyorkfixandfliploans.com/brooklyn-ny/), [Queens](https://newyorkfixandfliploans.com/queens-ny/) and our other [market pages](https://newyorkfixandfliploans.com/areas-we-serve/). ## Investment property loans: common questions ### Who is the best lender for an investment property in New York? It depends on the deal. For a renovation or a new build, look for a hard money lender that funds most of the purchase and the work and closes quickly. For a rental you will hold, look for a DSCR lender that qualifies the property on its rent and understands New York’s recording taxes, rent rules and Local Law 18. New York Fix and Flip Loans does both and lends only on non-owner-occupied property. It is run by Andrew Shanti, who has worked in lending and real estate since 2005. ### What is a non-owner-occupied loan? It is a loan on a property the borrower will not live in, such as a flip, a rental or a new build for sale. It is a business-purpose loan, approved on the property and the deal, and it is not reported on personal credit like a conventional mortgage. ### Can I get an investment property loan without tax returns? Yes. A DSCR rental loan is approved on whether the rent covers the payment, and a construction or fix and flip loan on the deal. We do not verify income or employment. ### How much do I need to put down on a New York rental? As little as 15% with strong credit, since we lend up to 85% loan-to-value on a rental purchase. At a 600 credit score the limit is 70%, so plan on 30%. Add the mortgage recording tax and, at $1 million or more, the mansion tax to your closing costs. ### Do you lend on second homes or primary residences? No. We lend on investment property only, and the property cannot be a home you will live in. For a primary residence, talk to a conventional mortgage broker. ### Do you lend outside New York City? Yes. We lend throughout Nassau, Suffolk and Westchester counties, and through Optimus Capital Corp in other states. ## Loan programs at a glance Program | Use it for | Top leverage [DSCR rental loans](https://newyorkfixandfliploans.com/dscr-rental-loans/) | Purchase or refinance of long-term rentals, two- to four-family homes, condos and small multifamily | 85% loan-to-value to buy, 80% on a cash-out refinance [Ground-up construction loans](https://newyorkfixandfliploans.com/new-construction-loans/) | Building a home, a two- or three-family or a small apartment building, lot included | 90% of cost for experienced builders, up to 70 to 75% of the finished value [Fix and flip loans](https://newyorkfixandfliploans.com/fix-and-flip-loans/) | Purchase plus renovation of a property you intend to sell | 90% of the purchase price and 100% of the rehab, up to 70 to 75% of after-repair value [Portfolio and commercial loans](https://newyorkfixandfliploans.com/hard-money-loan-programs/#portfolio) | A group of rentals under one note, or multifamily and commercial property | 80% on a portfolio purchase; commercial priced per deal Actual leverage depends on credit, track record, property type and location. Loans start at $75,000. ## Buying an investment property in New York? Send the address, the price and what you plan to do with the property. We will reply with the leverage and pricing that fit your deal. - Call (954) 598-4564 - Email andrew@optimuscapitalcorp.com - [Get pre-qualified online](https://newyorkfixandfliploans.com/get-pre-qualified/) --- Source: https://newyorkfixandfliploans.com/dscr-rental-loans/ Title: DSCR Loans in New York | Rental Loans up to 85% LTV Summary: DSCR loans for New York rentals: up to 85% LTV to buy, 80% cash-out, two- to four-family homes and condos, no tax returns. From 600 credit. [Home](https://newyorkfixandfliploans.com/) / [Loan programs](https://newyorkfixandfliploans.com/hard-money-loan-programs/) / DSCR rental loans # DSCR loans for New York rental property Long-term financing approved on what the property earns. Two- to four-family homes, condos, single-family rentals and small multifamily, with no tax returns or employment check. [Get pre-qualified](https://newyorkfixandfliploans.com/get-pre-qualified/) Call (954) 598-4564 ## DSCR loan terms To buy | up to 85% LTV Cash-out refinance | up to 80% LTV Credit scores from | 600 Fixed terms | 5 to 30 years Prepayment choices | 3-year, 5-year or none Typical closing | about 30 days At a 600 score the limit is 70% loan-to-value. Stronger credit qualifies for up to 85% on a purchase. ## DSCR in plain terms DSCR is short for debt service coverage ratio. It answers one question: does the rent pay the mortgage? If it does, the loan can be approved without looking at your personal income. DSCR = monthly rent ÷ monthly payment. The payment counts principal, interest, property taxes, insurance and any condo common charges. Rent | Payment | DSCR | Reading $6,500 | $5,000 | 1.30 | Income is 30% above the payment $5,000 | $5,000 | 1.00 | Income equals the payment $4,500 | $5,000 | 0.90 | Income is short; expect less leverage or a higher rate Illustrative figures. We prefer a ratio of 1.0 or higher. A strong borrower can qualify under 1.0 with lower leverage, and there is a no-DSCR option up to 75% loan-to-value at a higher rate. ## Which rent counts in New York - Long-term rentals. Year-long leases are the core of the market across the boroughs and the suburbs. We use the lease or the market rent from the appraisal. - Two- to four-family homes. Every legal unit’s rent counts. The certificate of occupancy or the city’s records should show the unit count you are renting. - Rent-regulated units. Many apartment buildings of six or more units built before 1974 are rent stabilized, and since 2019 state law has made it very hard to deregulate an apartment or raise the rent for improvements. Good Cause Eviction, in effect in New York City since 2024, limits rent increases and evictions in most market-rate rentals. Exemptions include owners of 10 or fewer units statewide, buildings first occupied on or after January 1, 2009, and units renting above 245% of fair market rent. - Short-term rentals. New York City’s Local Law 18 allows a short-term rental only when the host lives in the home, is present during the stay, has registered with the Mayor’s Office of Special Enforcement, and hosts no more than two guests. Renting out a whole house or apartment for less than 30 days is not allowed, so investor-owned property in the city is underwritten on long-term rent. Towns on Long Island and in Westchester set their own rules, and many require a permit or limit short stays. ## Costs that decide whether a New York deal clears 1.0 - Property tax. New York City taxes one- to three-family homes as Class 1, where assessed value can rise no more than 6% a year and 20% over five years, and taxes buildings of four or more units, condos and co-ops as Class 2. A recent purchase can be assessed well below its price, so budget with the actual tax bill, not an estimate. - Mortgage recording tax. New York City charges a mortgage recording tax when a loan is recorded. On one- to three-family homes and condos the borrower’s share is about 1.8% of a loan under $500,000 and 1.925% at $500,000 or more. On commercial property and buildings of four or more units it is 2.8% at $500,000 or more. Outside the city the rate is lower and varies by county. - Insurance and common charges. Get real quotes, and for a condo the building’s budget and any assessments, before you make an offer. - Lead paint duties. Paint in New York City buildings built before 1960 is presumed to contain lead. Local Law 1 sets safe work practices and extra duties when a child under six lives in a unit, and Local Law 31 requires an XRF lead paint test in rental units of pre-1960 buildings, including rentals in one- and two-family homes. ## Loan options - Fixed terms from 5 to 30 years. The 10/1 interest-only and the 30-year fully amortized loan are chosen most often. - Qualifying on the interest-only payment is available. - A 3-year or 5-year prepayment penalty. The 5-year option usually prices about 0.25 to 0.5% lower. No penalty is available at a higher rate. - One property or a whole [portfolio](https://newyorkfixandfliploans.com/hard-money-loan-programs/#portfolio). ## Refinancing after a renovation or a build If you renovate or build a property and decide to keep it, a DSCR loan replaces the short-term fix and flip or construction loan with long-term debt. A cash-out refinance at up to 80% loan-to-value can hand back much of the cash you put in. ## Documents we ask for - Loan application - Signed purchase contract, or your original closing statement for a refinance - The leases and a rent roll, or market rent from the appraisal - Two months of bank statements - Insurance, attorney and title contacts, and someone to let the appraiser in - For a condo: the building budget and any assessment notices - For an LLC: articles of organization, EIN letter and operating agreement The full list is in our [hard money loan document checklist](https://newyorkfixandfliploans.com/hard-money-loans-document-list/). ## DSCR loans: common questions ### What DSCR do you require? We prefer 1.0 or higher, which means the rent covers the full payment. Strong borrowers can qualify below 1.0 with lower leverage, and a no-DSCR program is available up to 75% loan-to-value at a higher rate. ### Can I qualify with Airbnb income in New York City? Generally not. Local Law 18 bars renting out a whole home or apartment for less than 30 days, so we underwrite city rentals on long-term rent. ### Do you count every unit in a two- or three-family? Yes, when each unit is legal. Every unit’s rent goes into the DSCR. ### Does Good Cause Eviction affect my loan? It can limit how fast you raise rents in a covered unit, so we look at in-place rents, not just market rent. Owners of 10 or fewer units statewide, newer buildings and high-rent units are exempt. ### What credit score is needed for a DSCR loan? The minimum is 600, at up to 70% loan-to-value. Higher scores qualify for up to 85% of the purchase price. ### Do you look at my tax returns or job? No. A DSCR loan is approved on the property’s rental income. There is no employment, tax return or debt-to-income review. ### Does the loan appear on my personal credit? No. These are business-purpose loans and are not reported on your personal credit like a conventional mortgage. There is no cap on how many properties we will finance for you. ## Buying or refinancing a New York rental? Send the address, the price and what you plan to do with the property. We will reply with the leverage and pricing that fit your deal. - Call (954) 598-4564 - Email andrew@optimuscapitalcorp.com - [Get pre-qualified online](https://newyorkfixandfliploans.com/get-pre-qualified/) --- Source: https://newyorkfixandfliploans.com/new-construction-loans/ Title: Construction Loans in New York | Up to 90% of Cost Summary: Construction loans in New York City, Long Island and Westchester for new homes, multifamily and rebuilds. Up to 90% of cost, lot included. [Home](https://newyorkfixandfliploans.com/) / [Loan programs](https://newyorkfixandfliploans.com/hard-money-loan-programs/) / Construction loans # Ground-up construction loans in New York Financing to build from the ground up, lot included: new homes, two- and three-family homes, tear-down rebuilds and small apartment buildings. Experienced builders can borrow up to 90% of the total project cost. [Get pre-qualified](https://newyorkfixandfliploans.com/get-pre-qualified/) Call (954) 598-4564 ## Construction loan terms Experienced builders | up to 90% of cost Standard | up to 85% of cost Limit on finished value | 70 to 75% Lot cost financed | up to 70% First-time builders | programs available Smallest loan | $75,000 Builders with fewer recent projects, and smaller markets, are usually limited to 80% of cost. ## Two limits decide the loan Loan-to-cost measures the loan against what you spend on the lot and the build. Loan-to-value measures it against what the finished property will be worth. A construction loan has to fit inside both. - The lot: up to 70% of what you paid can be financed. - The whole project: normally up to 85% of cost. - Experienced builders in major markets: up to 90% of cost. - Less active builders and smaller markets: usually up to 80% of cost. - Always: no more than 70 to 75% of the finished value. ### Example Lot | $500,000 Construction budget | $1,100,000 Total cost | $1,600,000 Finished value | $2,400,000 85% of cost | $1,360,000 90% of cost, experienced builder | $1,440,000 75% of finished value, the ceiling | $1,800,000 For illustration only. Both loan amounts sit under the $1,800,000 ceiling. ## Who qualifies Your record sets your leverage. Builders with completed projects get the most. First-time builders are not shut out: we have programs for them too. ## Building in New York - Zoning and the City of Yes. New York City’s 2024 City of Yes for Housing Opportunity changes allow more housing in many neighborhoods, including accessory dwelling units on many one- and two-family lots. Confirm with your architect what the lot allows before you price the build. - Department of Buildings. New buildings need approved plans, permits and inspections through the DOB, and a certificate of occupancy before anyone moves in. Plan the schedule, and the loan term, around a realistic approval date. - Landmarks. Large parts of Brooklyn and Manhattan are landmarked historic districts, including Park Slope, Brooklyn Heights, Fort Greene, parts of Bedford-Stuyvesant and Crown Heights, Harlem and the Upper West Side. Exterior work there needs a Landmarks Preservation Commission permit as well as Department of Buildings approval. - Neighbors and adjoining property. Excavation and new foundations next to existing buildings often need neighbor access, monitoring and protection. Budget for surveys and the agreements that come with them. - Long Island and Westchester. Each town, village and city runs its own building department and zoning, and approval times vary widely. Confirm the jurisdiction for the address early. ## From construction loan to rental loan Many investors build to keep. When the property is finished and leased, a [DSCR rental loan](https://newyorkfixandfliploans.com/dscr-rental-loans/) pays off the construction loan and replaces it with long-term debt. ## Finishing a stalled build A construction completion loan lends against the project as it stands today and adds what is needed to finish it. ## Documents we ask for - Loan application and personal financial statement - A line-item construction budget with a clear scope of work. Draws are paid against it - Plans, drawings and permit status - Your general contractor’s license, workers’ compensation certificate and recent completed projects - Your own projects from the last 2 years, with closing statements - Two months of bank statements showing reserves - Insurance, attorney and title contacts The full list is in our [hard money loan document checklist](https://newyorkfixandfliploans.com/hard-money-loans-document-list/). ## Construction loans: common questions ### How much of a new build will you finance in New York? Normally up to 85% of the total project cost, and up to 90% for experienced builders in major markets. The loan must also stay within 70 to 75% of the finished value. ### Is the lot included? Yes. Up to 70% of the lot cost can be financed, as long as the total loan stays inside the loan-to-cost limit. ### Do you finance two- and three-family new construction? Yes, as long as it is an investment property. Confirm what the zoning allows before you design. ### Will you lend to someone building for the first time? Yes, we have first-time builder programs. Leverage rises with a record of completed projects. ### Can you fund a build that has stopped part-way? Yes. A construction completion loan is based on the current as-is value plus the cost to finish. ## Have a lot and a set of plans? Send the address, the price and what you plan to do with the property. We will reply with the leverage and pricing that fit your deal. - Call (954) 598-4564 - Email andrew@optimuscapitalcorp.com - [Get pre-qualified online](https://newyorkfixandfliploans.com/get-pre-qualified/) --- Source: https://newyorkfixandfliploans.com/fix-and-flip-loans/ Title: Fix and Flip Loans in New York | 90% + 100% Rehab Summary: Fix and flip loans in New York City, Long Island and Westchester: up to 90% of purchase and 100% of rehab, interest only, no prepayment penalty. [Home](https://newyorkfixandfliploans.com/) / [Loan programs](https://newyorkfixandfliploans.com/hard-money-loan-programs/) / Fix and flip loans # Fix and flip loans in New York Bridge financing for investors who buy, renovate and resell in the five boroughs, Long Island and Westchester. One loan covers up to 90% of the purchase and the entire rehab budget. [Get pre-qualified](https://newyorkfixandfliploans.com/get-pre-qualified/) Call (954) 598-4564 ## Fix and flip loan terms Purchase financed | up to 90% Rehab financed | up to 100% Cap on after-repair value | 70 to 75% Credit scores from | 600 Term | 6 to 24 months Payments | interest only Average closing | 21 days or less The 90% and 100% figures apply at a 720+ credit score. Below that, leverage and pricing adjust down to a 600 minimum. ## How the loan amount is worked out The loan is built from two numbers. The first is a share of what you pay for the property. The second is your renovation budget, which is held back and paid out in draws as each stage of work is finished. The two together are limited to 70 to 75% of the after-repair value (ARV): the price the property should bring once the work is complete. ### Example You buy the two-family for | $900,000 Your rehab budget is | $250,000 Expected resale value (ARV) | $1,600,000 90% of the purchase | $810,000 100% of the rehab | $250,000 Loan amount | $1,060,000 75% of ARV, the ceiling | $1,200,000 Down payment, before closing costs | $90,000 For illustration only. $1,060,000 is below the $1,200,000 ceiling, so the whole loan is available. ## How experience and credit change the terms - First deal? You can still qualify. A new investor with a 720+ score is eligible for the full 90% and 100%. - Five or more flips in the past two years? You can close with no inspection and no appraisal, up to 75% of ARV. - Score under 720? Programs run down to 600, with less leverage. Experience is counted as properties you bought and sold in the past 24 months that were acquired within the past 36 months. ## Built around a resale - Interest-only payments while you renovate - 6 to 24 month terms - No prepayment penalty: pay off the day you sell - No income or job verification ## When a project stalls: mid-rehab loans If a renovation is under way and the money has run out, a mid-rehab loan lends on the property as it stands today and adds the funds to finish. ## What a New York flip involves - Department of Buildings permits. Structural, plumbing, electrical and mechanical work in the city needs DOB filings and permits, often through a registered architect or engineer, and a change in the number of units needs a new certificate of occupancy. Carry the approval time in your budget and loan term. - Landmarks. Large parts of Brooklyn and Manhattan are landmarked historic districts, including Park Slope, Brooklyn Heights, Fort Greene, parts of Bedford-Stuyvesant and Crown Heights, Harlem and the Upper West Side. Exterior work there needs a Landmarks Preservation Commission permit as well as Department of Buildings approval. - Lead paint. Paint in New York City buildings built before 1960 is presumed to contain lead. Local Law 1 sets safe work practices and extra duties when a child under six lives in a unit, and Local Law 31 requires an XRF lead paint test in rental units of pre-1960 buildings, including rentals in one- and two-family homes. - Closing taxes at both ends. New York City charges a mortgage recording tax when a loan is recorded. On one- to three-family homes and condos the borrower’s share is about 1.8% of a loan under $500,000 and 1.925% at $500,000 or more. On commercial property and buildings of four or more units it is 2.8% at $500,000 or more. Outside the city the rate is lower and varies by county. On a New York City sale the seller customarily pays the city transfer tax, 1% of the price up to $500,000 and 1.425% above that on one- to three-family homes and condos, and 1.425% or 2.625% on other property. The seller also pays the state transfer tax of 0.4%, which rises to 0.65% on homes of $3 million or more and on other property of $2 million or more. Buyers of one- to three-family homes and condos at $1 million or more pay the mansion tax, starting at 1%. - Tenants in place. Many apartment buildings of six or more units built before 1974 are rent stabilized, and since 2019 state law has made it very hard to deregulate an apartment or raise the rent for improvements. Good Cause Eviction, in effect in New York City since 2024, limits rent increases and evictions in most market-rate rentals. Exemptions include owners of 10 or fewer units statewide, buildings first occupied on or after January 1, 2009, and units renting above 245% of fair market rent. - Where the deals are. Bedford-Stuyvesant, Crown Heights, Bushwick, East Flatbush and Canarsie in Brooklyn; Jamaica, Ridgewood and the Rockaways in Queens; the North Shore of Staten Island; and older neighborhoods on Long Island and in southern Westchester. ## Documents we ask for - Loan application - Signed purchase contract, or the closing statement from your purchase if you are refinancing - A rehab budget broken into line items with a clear scope of work - Contact details for your insurance agent, your attorney and the title company - For an LLC: articles of organization, EIN letter and operating agreement - For experienced investors: your projects from the last 3 years with closing statements The full list is in our [hard money loan document checklist](https://newyorkfixandfliploans.com/hard-money-loans-document-list/). ## Fix and flip loans: common questions ### How much of a fix and flip will you finance in New York? As much as 90% of the purchase price and 100% of the renovation budget, provided the total loan is no more than 70 to 75% of the after-repair value. Those figures apply to borrowers with a credit score of 720 or higher. ### How quickly can a fix and flip loan close in New York? The average is up to 21 days. Once title work and insurance are ready, a loan can close in about 7 days. Each side has an attorney, and a title company insures the title. ### Do I need flipping experience? No. First-time investors can qualify. Investors who have completed 5 or more flips in the past 2 years get a shorter process with no inspection or appraisal. ### What closing taxes should I budget for on a New York City flip? On the purchase, the mortgage recording tax on the loan, about 1.8% under $500,000 and 1.925% at $500,000 or more on one- to three-family homes, plus the mansion tax if the price is $1 million or more. On the sale, the city and state transfer taxes, customarily paid by the seller. ### Will you finance a co-op apartment? No. Co-op apartments are shares in a corporation, not real property, and boards set their own rules on investors, subletting and financing. Investor loans like ours are made on one- to four-family homes, condos, multifamily and mixed-use buildings, not on co-op shares. ### Can I renovate a house and keep it as a rental instead of selling? Yes. When the work is done, a DSCR rental loan can replace the fix and flip loan, with a cash-out refinance at up to 80% loan-to-value. ### Can I use a fix and flip loan on a house I will live in? No. We lend on investment property only. ## Under contract on a flip? Send the address, the price and what you plan to do with the property. We will reply with the leverage and pricing that fit your deal. - Call (954) 598-4564 - Email andrew@optimuscapitalcorp.com - [Get pre-qualified online](https://newyorkfixandfliploans.com/get-pre-qualified/) --- Source: https://newyorkfixandfliploans.com/hard-money-loan-programs/ Title: Hard Money Loan Programs in New York | Flip, DSCR, Build Summary: Compare six loan programs for New York real estate investors: fix and flip, DSCR rental loans, ground-up construction, mid-rehab, portfolio and commercial. [Home](https://newyorkfixandfliploans.com/) / Loan programs # Hard money loan programs for New York investors Six loan types for investment real estate in New York City, Long Island and Westchester: short-term fix and flip and construction loans, DSCR rental loans with terms up to 30 years, and mid-rehab, portfolio and commercial loans. ## Compare the programs Program | Use it for | Top leverage | Approved on [Fix and flip loans](https://newyorkfixandfliploans.com/fix-and-flip-loans/) | Purchase plus renovation of a property you intend to sell | 90% of the purchase price and 100% of the rehab, up to 70 to 75% of after-repair value | The deal: price, rehab budget and resale value [DSCR rental loans](https://newyorkfixandfliploans.com/dscr-rental-loans/) | Purchase or refinance of long-term rentals, two- to four-family homes, condos and small multifamily | 85% loan-to-value to buy, 80% on a cash-out refinance | Whether the rent covers the payment [Ground-up construction loans](https://newyorkfixandfliploans.com/new-construction-loans/) | Building a home, a two- or three-family or a small apartment building, lot included | 90% of cost for experienced builders, up to 70 to 75% of the finished value | Budget, finished value and your building record Mid-rehab loans | Completing a renovation or build that has run short of funds | The current as-is value plus the cost to finish | As-is value and remaining scope Portfolio loans | A group of rentals under one note and one payment | 80% to buy or refinance, 75% on a cash-out | Rent across the whole group Commercial loans | Multifamily, mixed-use, hospitality, office, industrial and retail | Priced per deal | The property and its income Actual leverage depends on credit, track record, property type and location. Loan sizes run from $75,000 to more than $10 million. ## Fix and flip loans Interest-only bridge loans for buying and renovating a property to sell. At a 720+ credit score we finance up to 90% of the price and all of the rehab, within 70 to 75% of the after-repair value. Investors with 5 or more flips in the past 2 years close without an inspection or appraisal. Scores down to 600 qualify at lower leverage. [More on fix and flip loans](https://newyorkfixandfliploans.com/fix-and-flip-loans/) ## DSCR rental loans Fixed-rate loans for rental property, approved on the debt service coverage ratio and not on your own income. We lend up to 85% loan-to-value on a purchase and 80% on a cash-out refinance, on single-family rentals, two- to four-family homes, small multifamily, condos and property owned by foreign nationals. [More on DSCR rental loans](https://newyorkfixandfliploans.com/dscr-rental-loans/) ## Ground-up construction loans Financing to build at up to 90% of cost for experienced builders, inside 70 to 75% of the finished value, with up to 70% of the lot cost included. That covers new homes, two- and three-family homes, tear-down rebuilds and small apartment buildings. First-time builder programs are available. [More on construction loans](https://newyorkfixandfliploans.com/new-construction-loans/) ## Mid-rehab and completion loans Capital to finish a renovation or a build that has already started. The loan is sized on the new as-is value plus the remaining cost. Projects that stalled waiting on a permit or a landmarks approval, or ran over budget, are a common fit. ## Portfolio loans One loan across several rentals. Leverage follows the single-property rental terms: up to 80% loan-to-value to purchase or refinance, and up to 75% for a cash-out. - A single closing and a single monthly payment, which trims title and closing costs - A 120% partial release, so one property can be sold or refinanced out of the group later - Many investors divide a portfolio into holds and sales and finance each group separately ## Commercial loans Multifamily, mixed-use, hospitality, professional office, industrial and retail property. Every commercial loan is priced on its own facts. Larger commercial loans can involve upfront costs, and we spell those out before you commit. ## True of every program - For investment property. We do not finance a home you will live in, or co-op shares - No employment or debt-to-income review - As a rule, nothing to pay upfront apart from the appraisal, which goes to the appraiser - Not reported on your personal credit, and no cap on the number of loans - Terms from 6 months to 30 years ## Not sure which loan fits? Describe the property and what you want to do with it. We will point you to the right program and quote the leverage and pricing. - Call (954) 598-4564 - Email andrew@optimuscapitalcorp.com - [Get pre-qualified online](https://newyorkfixandfliploans.com/get-pre-qualified/) --- Source: https://newyorkfixandfliploans.com/about-us/ Title: About New York Fix and Flip Loans | Andrew Shanti Summary: New York Fix and Flip Loans is the New York division of Optimus Capital Corp, run by Andrew Shanti, in lending and real estate since 2005. [Home](https://newyorkfixandfliploans.com/) / About # About New York Fix and Flip Loans The New York division of Optimus Capital Corp, a relationship-driven hard money lender that works only with real estate investors. ## Who we are New York Fix and Flip Loans lends to real estate investors in all five boroughs of New York City and across Long Island and Westchester. We are part of Optimus Capital Corp, a nationwide hard money lender, which gives New York investors a lender that knows the local rules and has the lending capacity of a national company. We finance fix and flips, two- to four-family homes, long-term rentals, condos, small multifamily, new construction, rental portfolios and commercial property. We do not finance homes that the borrower will live in. ## How we work Lending here is built on relationships. You get a clear answer on what a deal qualifies for, a loan that is pre-underwritten in-house so it funds right the first time, and a second set of eyes on your numbers before you commit to them. - Fix and flip loans average up to 21 days and can close in about 7 days once title and insurance are ready - Rental loans close in about 30 days, appraisal included - We go through the price, the budget or income, and the exit with you - No limit on how many loans one investor can hold with us ## About Optimus Capital Corp Our parent company, [Optimus Capital Corp](https://www.optimuscapitalcorp.com/), is a best-in-class, relationship-driven lender that works exclusively with real estate investors. Optimus Capital was founded in 2015 and is one of the only hard money lenders in the country that maintains a 5-star review rating. Our business model is based on the Golden Rule: do right by others over the long term. We want to knock it out of the park for you. We are a lender that has your back, with the right capital in place to get your loan over the finish line. Learn more about our parent company at [optimuscapitalcorp.com](https://www.optimuscapitalcorp.com/). ## Our other markets Optimus Capital Corp also lends through local sites in other markets. If you invest outside this area, these cover the same loan programs: - [Hilton Head Hard Money Loans](https://hiltonheadhardmoney.com/): DSCR, vacation rental and construction loans on Hilton Head Island and in Bluffton and Beaufort, South Carolina - [Charleston Hard Money Loans](https://charlestonhardmoneyloans.com/): DSCR, fix and flip and construction loans in Charleston and across South Carolina - [Gatlinburg Hard Money Loans](https://gatlinburghardmoneyloans.com/): DSCR and construction loans for rental cabins in Gatlinburg, Pigeon Forge and Sevierville, Tennessee - [Boston Fix and Flip Loans](https://bostonfixandfliploans.com/): fix and flip and rental loans in Boston and across Massachusetts - [Seattle Fix and Flip Loans](https://seattlefixandfliploans.com/): fix and flip and rental loans in Seattle and across Washington state - [Honolulu Fix and Flip Loans](https://honolulufixandfliploans.com/): fix and flip and rental loans in Honolulu and across Oahu - [Washington DC Fix and Flip Loans](https://washingtondcfixandfliploans.com/): fix and flip and rental loans in Washington, DC and the Maryland and Virginia suburbs ## Your lender ### Andrew Shanti Senior Vice President Andrew has worked in lending and real estate since 2005 as a principal, executive and investor, across residential and commercial property. His background includes off-market commercial real estate, where he has facilitated more than $25 billion in offers for clients that include high net worth individuals and hedge funds. Away from work, Andrew hangs out with his Rhodesian Ridgeback, Harley, and his Goldendoodle, Brodie, and spends time with his wife and their four cats, two guinea pigs and two rabbits. - Call (954) 598-4564 - Email andrew@optimuscapitalcorp.com - [LinkedIn](https://www.linkedin.com/in/andrew-shanti-6a07631a/) ## What clients say about Andrew Andrew Shanti with Optimus Capital has been exceptional to work with. Over the past several years, I have closed numerous transactions with Andrew on behalf of sophisticated real estate investors, and his performance has been consistently outstanding. [...] Every transaction I have been involved with Andrew at Optimus Capital has closed, including many requiring thoughtful structuring and creative solutions due to their challenging nature. Maria McKee, Premier Sotheby’s International Realty, Google review of Optimus Capital Just completed a rental portfolio refi with Optimus. Andrew and Daisy were amazing to work with and helped me work through every challenge quickly and with clear understanding. Zachary Hagan, Google review of Optimus Capital These reviews were left for Optimus Capital, our parent company, about Andrew Shanti. [Read all of the Optimus Capital reviews on Google](https://www.google.com/maps?cid=16792545801423268972). ## Loan programs Program | Use it for | Top leverage [DSCR rental loans](https://newyorkfixandfliploans.com/dscr-rental-loans/) | Purchase or refinance of long-term rentals, two- to four-family homes, condos and small multifamily | 85% loan-to-value to buy, 80% on a cash-out refinance [Ground-up construction loans](https://newyorkfixandfliploans.com/new-construction-loans/) | Building a home, a two- or three-family or a small apartment building, lot included | 90% of cost for experienced builders, up to 70 to 75% of the finished value [Fix and flip loans](https://newyorkfixandfliploans.com/fix-and-flip-loans/) | Purchase plus renovation of a property you intend to sell | 90% of the purchase price and 100% of the rehab, up to 70 to 75% of after-repair value [Portfolio and commercial loans](https://newyorkfixandfliploans.com/hard-money-loan-programs/#portfolio) | A group of rentals under one note, or multifamily and commercial property | 80% on a portfolio purchase; commercial priced per deal Actual leverage depends on credit, track record, property type and location. Loans start at $75,000. ## Talk to Andrew about your deal Send the address, the price and what you plan to do with the property. We will reply with the leverage and pricing that fit your deal. - Call (954) 598-4564 - Email andrew@optimuscapitalcorp.com - [Get pre-qualified online](https://newyorkfixandfliploans.com/get-pre-qualified/) --- Source: https://newyorkfixandfliploans.com/faq/ Title: Hard Money & Fix and Flip Loan FAQ for New York Investors Summary: Answers on hard money, fix and flip and DSCR loans in New York: credit scores, recording and transfer taxes, Local Law 18, rent rules and closing times. [Home](https://newyorkfixandfliploans.com/) / FAQ # Hard money, fix and flip and DSCR loans in New York: your questions answered How investment property lending works in New York City, Long Island and Westchester: what we finance, what it costs to start, credit, rentals, local rules, timing and loan size. ## Getting started ### What is a hard money loan? It is a mortgage on an investment property that is funded by private institutional investors, not a bank. The decision is based on the property and the deal: its value after renovation or construction, or whether its rent covers the payment. Your job history and debt-to-income ratio are not reviewed. ### Who is New York Fix and Flip Loans? New York Fix and Flip Loans is the New York division of Optimus Capital Corp, a nationwide hard money lender that works only with real estate investors. It is run by Andrew Shanti, Senior Vice President, who has worked in lending and real estate since 2005. ### Where do you lend? All five boroughs of New York City (Brooklyn, Queens, the Bronx, Manhattan and Staten Island) and Nassau, Suffolk and Westchester counties. Through Optimus Capital Corp we also lend in other states. ### What loans do you offer? Fix and flip loans, DSCR loans for rental property, ground-up construction loans, mid-rehab and completion loans, rental portfolio loans, and commercial loans on multifamily, mixed-use, hospitality, office, industrial and retail property. ### Who is the best lender for a fix and flip in New York? Choose a lender that funds most of the purchase and all of the renovation, pays draws promptly, and allows a term long enough for DOB approvals and, in landmarked areas, Landmarks Preservation Commission review. We lend up to 90% of the purchase and 100% of the rehab on terms of 6 to 24 months. See [investment property loans in New York](https://newyorkfixandfliploans.com/investment-property-loans-new-york/). ### What does non-owner-occupied mean? It means the borrower will not live in the property. Flips, rentals and new builds for sale are non-owner-occupied, and they are financed with business-purpose loans. Every loan we make is on non-owner-occupied property. ### Will you finance a home I plan to live in? No. We lend on investment property only. The exception is commercial property occupied by the owner’s business. For a primary residence, a conventional NMLS-licensed mortgage broker is the right place to go. ### Do you lend on co-ops? Co-op apartments are shares in a corporation, not real property, and boards set their own rules on investors, subletting and financing. Investor loans like ours are made on one- to four-family homes, condos, multifamily and mixed-use buildings, not on co-op shares. ## Cost, credit and qualifying ### Do I pay anything upfront? As a rule, no, except on large commercial loans. The one cost before closing on most loans is the appraisal, which you pay to the appraisal company. ### What credit score do I need? Programs begin at a 600 score. Fix and flip loans start at 600 with reduced leverage, while the best terms, 90% of purchase and 100% of rehab, are for scores of 720 or higher. Rental loans are available at 600 with up to 70% loan-to-value. ### Do you verify income or employment? No. We look at three things: enough cash to buy and carry the property, a property that can cover its payment now or once the work is finished, and a credit record that shows debts are paid on time. ### Will the loan show on my credit report? No. These are business-purpose loans and are not reported on personal credit like a conventional mortgage. ### How many loans can I have with you? As many as your deals support. There is no limit on the number of properties we will finance for one investor. ### Can my LLC be the borrower? Yes. We will need the articles of organization, the IRS EIN letter, a signed operating agreement showing each member’s share and, if the LLC is over a year old, a certificate of good standing. ### What is the mortgage recording tax? New York City charges a mortgage recording tax when a loan is recorded. On one- to three-family homes and condos the borrower’s share is about 1.8% of a loan under $500,000 and 1.925% at $500,000 or more. On commercial property and buildings of four or more units it is 2.8% at $500,000 or more. Outside the city the rate is lower and varies by county. ### What transfer taxes apply to a New York sale? On a New York City sale the seller customarily pays the city transfer tax, 1% of the price up to $500,000 and 1.425% above that on one- to three-family homes and condos, and 1.425% or 2.625% on other property. The seller also pays the state transfer tax of 0.4%, which rises to 0.65% on homes of $3 million or more and on other property of $2 million or more. Buyers of one- to three-family homes and condos at $1 million or more pay the mansion tax, starting at 1%. ## New York rentals and local rules ### What is a DSCR loan? A DSCR loan is approved on the debt service coverage ratio: the rent divided by the full monthly payment. We prefer 1.0 or higher. Strong borrowers can qualify below 1.0 with lower leverage, and a no-DSCR program exists at a higher rate. ### Can an investor run a short-term rental in New York City? New York City’s Local Law 18 allows a short-term rental only when the host lives in the home, is present during the stay, has registered with the Mayor’s Office of Special Enforcement, and hosts no more than two guests. Renting out a whole house or apartment for less than 30 days is not allowed, so investor-owned property in the city is underwritten on long-term rent. Towns on Long Island and in Westchester set their own rules, and many require a permit or limit short stays. ### How do rent stabilization and Good Cause Eviction affect investors? Many apartment buildings of six or more units built before 1974 are rent stabilized, and since 2019 state law has made it very hard to deregulate an apartment or raise the rent for improvements. Good Cause Eviction, in effect in New York City since 2024, limits rent increases and evictions in most market-rate rentals. Exemptions include owners of 10 or fewer units statewide, buildings first occupied on or after January 1, 2009, and units renting above 245% of fair market rent. ### What lead paint rules apply to New York City rentals? Paint in New York City buildings built before 1960 is presumed to contain lead. Local Law 1 sets safe work practices and extra duties when a child under six lives in a unit, and Local Law 31 requires an XRF lead paint test in rental units of pre-1960 buildings, including rentals in one- and two-family homes. ### How are New York City rentals taxed? New York City taxes one- to three-family homes as Class 1, where assessed value can rise no more than 6% a year and 20% over five years, and taxes buildings of four or more units, condos and co-ops as Class 2. A recent purchase can be assessed well below its price, so budget with the actual tax bill, not an estimate. ### Do you lend to foreign nationals? Yes, through our rental loan programs. ## Timing and loan size ### How quickly can you close? Fix and flip loans average up to 21 days and can close in about 7 days when title and insurance are ready. Rental and DSCR loans take about 30 days, appraisal included. ### Who handles the closing? In New York, the buyer, the seller and the lender each have an attorney, and a title company insures the title. Have your attorney chosen when you apply. ### What are the smallest and largest loans? The minimum is $75,000. The maximum is more than $10 million. ### How long are the terms? From 6 months to 30 years. Fix and flip loans are 6 to 24 months with interest-only payments. Rental loans are fixed for 5 to 30 years. ### Are there prepayment penalties? Not on fix and flip loans. Rental loans come with a 3-year or 5-year prepayment penalty, the 5-year usually priced about 0.25 to 0.5% lower, or with no penalty at a higher rate. Something we did not cover? Call (954) 598-4564 or email andrew@optimuscapitalcorp.com. ## Have a New York deal in mind? Run it by us. Send the address, the price and what you plan to do with the property. We will reply with the leverage and pricing that fit your deal. - Call (954) 598-4564 - Email andrew@optimuscapitalcorp.com - [Get pre-qualified online](https://newyorkfixandfliploans.com/get-pre-qualified/) --- Source: https://newyorkfixandfliploans.com/contact/ Title: Contact Us | New York Fix and Flip Loans Summary: Call (954) 598-4564 or get pre-qualified online. Tell us the property and your plan and we will reply with leverage and pricing. No obligation. [Home](https://newyorkfixandfliploans.com/) / Contact # Tell us about your deal Share the property and your plan, and we will come back with leverage and pricing. There is no obligation. ## Reach us directly - Call (954) 598-4564 - Email andrew@optimuscapitalcorp.com - [Get pre-qualified online](https://newyorkfixandfliploans.com/get-pre-qualified/) ## Useful to have ready - Property address and type, the number of units, and whether it is tenant-occupied - Purchase price, or today’s value if you are refinancing - Rehab or construction budget, if there is one - The leases or projected rent, for a rental - A rough credit score and how many deals you have done ## After you send the form - You receive an email confirming your details reached us. - We follow up with a text message. - Andrew or a member of the Optimus Capital team calls to talk through your scenario. We lend on investment property in New York City, Long Island and Westchester. We do not finance homes the borrower will live in. ## Deal form By sending the form you agree to be contacted about your request. See the [privacy policy](https://optimuscapitalcorp.com/privacy-policy). --- Source: https://newyorkfixandfliploans.com/areas-we-serve/ Title: Areas We Serve | New York City, Long Island & Westchester Summary: Hard money, fix and flip and DSCR loans in Brooklyn, Queens, the Bronx, Manhattan, Staten Island, Nassau, Suffolk and Westchester counties. [Home](https://newyorkfixandfliploans.com/) / Areas we serve # Where we lend: the five boroughs, Long Island and Westchester Brooklyn, Queens, the Bronx, Manhattan and Staten Island, plus Nassau and Suffolk counties on Long Island and Westchester County. ## Local guides Market | Area | What investors buy there [Brooklyn](https://newyorkfixandfliploans.com/brooklyn-ny/) | Kings County | Brownstones and row houses to renovate, two- to four-family homes, small multifamily [Queens](https://newyorkfixandfliploans.com/queens-ny/) | Queens County | Two-family homes, attached row houses, detached houses to renovate and rent [The Bronx](https://newyorkfixandfliploans.com/bronx-ny/) | Bronx County | Two- and three-family homes and small apartment buildings [Manhattan](https://newyorkfixandfliploans.com/manhattan-ny/) | New York County | Townhouses, condos and mixed-use buildings [Staten Island](https://newyorkfixandfliploans.com/staten-island-ny/) | Richmond County | Detached and semi-detached houses to flip, two-families and new construction [Nassau County](https://newyorkfixandfliploans.com/nassau-county-ny/) | Long Island | Single-family flips and rentals, tear-down rebuilds [Suffolk County](https://newyorkfixandfliploans.com/suffolk-county-ny/) | Long Island | Single-family flips and rentals, new construction on larger lots [Westchester County](https://newyorkfixandfliploans.com/westchester-county-ny/) | Yonkers, Mount Vernon, New Rochelle and beyond | Two- and three-family homes, single-family renovations, small multifamily ## Anywhere in the region You do not need to be in one of those markets. We lend across New York City and its suburbs, and through Optimus Capital Corp we also finance property in other states. ## What to know about lending here - Closing taxes. New York City charges a mortgage recording tax when a loan is recorded. On one- to three-family homes and condos the borrower’s share is about 1.8% of a loan under $500,000 and 1.925% at $500,000 or more. On commercial property and buildings of four or more units it is 2.8% at $500,000 or more. Outside the city the rate is lower and varies by county. - Transfer and mansion taxes. On a New York City sale the seller customarily pays the city transfer tax, 1% of the price up to $500,000 and 1.425% above that on one- to three-family homes and condos, and 1.425% or 2.625% on other property. The seller also pays the state transfer tax of 0.4%, which rises to 0.65% on homes of $3 million or more and on other property of $2 million or more. Buyers of one- to three-family homes and condos at $1 million or more pay the mansion tax, starting at 1%. - Short-term rentals. New York City’s Local Law 18 allows a short-term rental only when the host lives in the home, is present during the stay, has registered with the Mayor’s Office of Special Enforcement, and hosts no more than two guests. Renting out a whole house or apartment for less than 30 days is not allowed, so investor-owned property in the city is underwritten on long-term rent. Towns on Long Island and in Westchester set their own rules, and many require a permit or limit short stays. - Rent rules. Many apartment buildings of six or more units built before 1974 are rent stabilized, and since 2019 state law has made it very hard to deregulate an apartment or raise the rent for improvements. Good Cause Eviction, in effect in New York City since 2024, limits rent increases and evictions in most market-rate rentals. Exemptions include owners of 10 or fewer units statewide, buildings first occupied on or after January 1, 2009, and units renting above 245% of fair market rent. - Landmarks. Large parts of Brooklyn and Manhattan are landmarked historic districts, including Park Slope, Brooklyn Heights, Fort Greene, parts of Bedford-Stuyvesant and Crown Heights, Harlem and the Upper West Side. Exterior work there needs a Landmarks Preservation Commission permit as well as Department of Buildings approval. - Closings. In New York each side is represented by an attorney, and a title company insures the title. Have your attorney chosen when you apply. ## Loan programs available everywhere we lend Program | Use it for | Top leverage [DSCR rental loans](https://newyorkfixandfliploans.com/dscr-rental-loans/) | Purchase or refinance of long-term rentals, two- to four-family homes, condos and small multifamily | 85% loan-to-value to buy, 80% on a cash-out refinance [Ground-up construction loans](https://newyorkfixandfliploans.com/new-construction-loans/) | Building a home, a two- or three-family or a small apartment building, lot included | 90% of cost for experienced builders, up to 70 to 75% of the finished value [Fix and flip loans](https://newyorkfixandfliploans.com/fix-and-flip-loans/) | Purchase plus renovation of a property you intend to sell | 90% of the purchase price and 100% of the rehab, up to 70 to 75% of after-repair value [Portfolio and commercial loans](https://newyorkfixandfliploans.com/hard-money-loan-programs/#portfolio) | A group of rentals under one note, or multifamily and commercial property | 80% on a portfolio purchase; commercial priced per deal Actual leverage depends on credit, track record, property type and location. Loans start at $75,000. ## Have a New York deal in mind? Run it by us. Send the address, the price and what you plan to do with the property. We will reply with the leverage and pricing that fit your deal. - Call (954) 598-4564 - Email andrew@optimuscapitalcorp.com - [Get pre-qualified online](https://newyorkfixandfliploans.com/get-pre-qualified/) --- Source: https://newyorkfixandfliploans.com/get-pre-qualified/ Title: Get Pre-Qualified | New York Fix and Flip Loans Summary: Get pre-qualified for a fix and flip, DSCR rental or construction loan on your New York investment property. No cost, no obligation. [Home](https://newyorkfixandfliploans.com/) / Get pre-qualified # Get pre-qualified Tell us about the property and your plan. Andrew Shanti will review it and come back to you with the leverage and pricing your deal qualifies for. There is no cost and no obligation. Full name (required) Email (required) Phone (required) Loan type (required)Select oneFix and flipDSCR rental loan: purchaseDSCR rental loan: cash-out refinanceGround-up constructionPortfolio or commercialNot sure yet Property borough, town or city Purchase price or current value Estimated credit scoreSelect one720 or higher680 to 719640 to 679600 to 639Below 600Not sure Investment deals in the last 2 yearsSelect oneNone yet1 to 23 to 45 or more Anything else we should know? Get pre-qualified ## Thank you. Your request is in. Andrew will review your deal and get back to you with the leverage and pricing it qualifies for. For anything urgent, call (954) 598-4564. ## What happens next - Your details go straight to Andrew. - He reviews the deal and runs the numbers. - You hear back with the leverage and pricing available, and the next steps. ## Prefer to talk? - Call (954) 598-4564 - Email andrew@optimuscapitalcorp.com We lend on non-owner-occupied investment property in New York City, Long Island and Westchester. We do not finance homes the borrower will live in. --- Source: https://newyorkfixandfliploans.com/brooklyn-ny/ Title: Brooklyn, NY Hard Money & Fix and Flip Loans Summary: Fix and flip, DSCR rental and construction loans for Brooklyn, NY investors. 90% of purchase and 100% of rehab on flips, up to 85% LTV on rentals. [Home](https://newyorkfixandfliploans.com/) / [Areas we serve](https://newyorkfixandfliploans.com/areas-we-serve/) / Brooklyn, NY # Hard money and fix and flip loans in Brooklyn, New York Loans for brownstone and row house renovations, two- to four-family homes and small multifamily buildings across Brooklyn. [Get pre-qualified](https://newyorkfixandfliploans.com/get-pre-qualified/) Call (954) 598-4564 ## The Brooklyn market for investors Brooklyn is the most populous borough, and much of its housing is brownstones, limestones and brick row houses built between the 1870s and the 1930s, along with two- to four-family homes and walk-up apartment buildings. Strong rental demand and a deep buyer market for renovated homes make it the city’s busiest renovation market. Investors buy dated row houses and two-families to renovate and resell, convert or legalize units where the zoning and certificate of occupancy allow, and hold small multifamily as long-term rentals. Many of the most valuable blocks are landmarked, so the plan has to include Landmarks Preservation Commission review. ## Neighborhoods investors ask about - Bedford-Stuyvesant and Crown Heights: brownstones and row houses to renovate, parts of them in historic districts - Bushwick and Ridgewood border: two- to four-family homes and walk-ups - East Flatbush, Flatbush and Canarsie: attached and semi-detached homes at lower entry prices - Park Slope, Fort Greene, Clinton Hill and Brooklyn Heights: higher-priced townhouses, much of them landmarked - Bay Ridge, Sunset Park and Bensonhurst: two-families and small buildings in southern Brooklyn ## Plan for these on a Brooklyn deal - New York City’s mortgage recording tax is about 1.8% of a loan under $500,000 and 1.925% at $500,000 or more on one- to three-family homes and condos, and 2.8% on larger buildings and commercial property at $500,000 or more. Build it into your cash to close. - On the sale, the seller customarily pays the city transfer tax (1% up to $500,000 and 1.425% above on one- to three-family homes) and the state transfer tax of 0.4%. Buyers at $1 million or more pay the mansion tax. - Exterior work in historic districts such as Park Slope, Fort Greene and Stuyvesant Heights needs a Landmarks Preservation Commission permit as well as a Department of Buildings permit. - Work that changes layout, structure, plumbing or the unit count needs Department of Buildings filings, usually through a registered architect or engineer, and a new certificate of occupancy for a change in units. - Paint in buildings built before 1960 is presumed to contain lead. Local Law 31 requires an XRF test in rental units of those buildings, including rentals in one- and two-family homes. - Buildings of six or more units built before 1974 are often rent stabilized, and Good Cause Eviction covers many other rentals unless an exemption applies, such as an owner with 10 or fewer units statewide. Ask for the rent roll and registration history before you sign. ## Loans available in Brooklyn Program | Use it for | Top leverage [DSCR rental loans](https://newyorkfixandfliploans.com/dscr-rental-loans/) | Purchase or refinance of long-term rentals, two- to four-family homes, condos and small multifamily | 85% loan-to-value to buy, 80% on a cash-out refinance [Ground-up construction loans](https://newyorkfixandfliploans.com/new-construction-loans/) | Building a home, a two- or three-family or a small apartment building, lot included | 90% of cost for experienced builders, up to 70 to 75% of the finished value [Fix and flip loans](https://newyorkfixandfliploans.com/fix-and-flip-loans/) | Purchase plus renovation of a property you intend to sell | 90% of the purchase price and 100% of the rehab, up to 70 to 75% of after-repair value [Portfolio and commercial loans](https://newyorkfixandfliploans.com/hard-money-loan-programs/#portfolio) | A group of rentals under one note, or multifamily and commercial property | 80% on a portfolio purchase; commercial priced per deal Actual leverage depends on credit, track record, property type and location. Loans start at $75,000. ## Brooklyn hard money loans: common questions ### Do you offer hard money loans in Brooklyn? Yes. We finance fix and flips at up to 90% of purchase and 100% of rehab, rentals at up to 85% loan-to-value, and ground-up construction at up to 90% of cost for experienced builders. ### Do you finance brownstone renovations in landmarked areas? Yes. Plan for Landmarks Preservation Commission review of exterior work, and choose a loan term long enough to cover it. ### Can I rent a Brooklyn investment property on Airbnb? Local Law 18 bars renting out a whole home or apartment in the city for less than 30 days, so investment properties are underwritten on long-term rent. ### How fast can a loan close in Brooklyn? Fix and flip loans average up to 21 days and can close in about 7 days when title and insurance are ready. Rental and DSCR loans take about 30 days, appraisal included. In New York each side is represented by an attorney, and a title company insures the title. ## Other markets we serve - [Queens, NY](https://newyorkfixandfliploans.com/queens-ny/) - [The Bronx, NY](https://newyorkfixandfliploans.com/bronx-ny/) - [Manhattan, NY](https://newyorkfixandfliploans.com/manhattan-ny/) - [Staten Island, NY](https://newyorkfixandfliploans.com/staten-island-ny/) - [Nassau County, NY](https://newyorkfixandfliploans.com/nassau-county-ny/) - [Suffolk County, NY](https://newyorkfixandfliploans.com/suffolk-county-ny/) - [Westchester County, NY](https://newyorkfixandfliploans.com/westchester-county-ny/) - [All service areas](https://newyorkfixandfliploans.com/areas-we-serve/) ## Looking at a property in Brooklyn? Send the address, the price and what you plan to do with the property. We will reply with the leverage and pricing that fit your deal. - Call (954) 598-4564 - Email andrew@optimuscapitalcorp.com - [Get pre-qualified online](https://newyorkfixandfliploans.com/get-pre-qualified/) --- Source: https://newyorkfixandfliploans.com/queens-ny/ Title: Queens, NY Hard Money & Fix and Flip Loans Summary: Fix and flip, DSCR rental and construction loans for Queens, NY investors. 90% of purchase and 100% of rehab on flips, up to 85% LTV on rentals. [Home](https://newyorkfixandfliploans.com/) / [Areas we serve](https://newyorkfixandfliploans.com/areas-we-serve/) / Queens, NY # Hard money and fix and flip loans in Queens, New York Financing for two-family homes, attached row houses and detached houses to renovate and rent across Queens. [Get pre-qualified](https://newyorkfixandfliploans.com/get-pre-qualified/) Call (954) 598-4564 ## The Queens market for investors Queens is the largest borough by area and one of the most diverse places in the country. Its housing ranges from attached brick row houses in Ridgewood and Jackson Heights to detached and two-family homes in southeast Queens and the Rockaways. Investors renovate dated one- and two-family homes for resale, hold two-families as rentals, and build where zoning allows. Southeast Queens and parts of the Rockaways offer lower entry prices, while western Queens rents strongly near the subway. ## Neighborhoods investors ask about - Jamaica, Hollis, Queens Village and St. Albans: detached and two-family homes to renovate - Ridgewood and Glendale: brick row houses and two- to six-family buildings - Astoria and Jackson Heights: two-families and small buildings near the subway - The Rockaways: beach-area homes at lower prices, many in flood zones - Flushing, Bayside and Fresh Meadows: higher-priced homes in northeast Queens ## Plan for these on a Queens deal - New York City’s mortgage recording tax is about 1.8% of a loan under $500,000 and 1.925% at $500,000 or more on one- to three-family homes and condos, and 2.8% on larger buildings and commercial property at $500,000 or more. Build it into your cash to close. - On the sale, the seller customarily pays the city transfer tax (1% up to $500,000 and 1.425% above on one- to three-family homes) and the state transfer tax of 0.4%. Buyers at $1 million or more pay the mansion tax. - Work that changes layout, structure, plumbing or the unit count needs Department of Buildings filings, usually through a registered architect or engineer, and a new certificate of occupancy for a change in units. - Parts of the Rockaways, Howard Beach and Broad Channel are in flood zones. Check the FEMA flood zone before you make an offer. Where flood insurance is required, the premium is part of the payment. - Paint in buildings built before 1960 is presumed to contain lead. Local Law 31 requires an XRF test in rental units of those buildings, including rentals in one- and two-family homes. - Buildings of six or more units built before 1974 are often rent stabilized, and Good Cause Eviction covers many other rentals unless an exemption applies, such as an owner with 10 or fewer units statewide. Ask for the rent roll and registration history before you sign. ## Loans available in Queens Program | Use it for | Top leverage [DSCR rental loans](https://newyorkfixandfliploans.com/dscr-rental-loans/) | Purchase or refinance of long-term rentals, two- to four-family homes, condos and small multifamily | 85% loan-to-value to buy, 80% on a cash-out refinance [Ground-up construction loans](https://newyorkfixandfliploans.com/new-construction-loans/) | Building a home, a two- or three-family or a small apartment building, lot included | 90% of cost for experienced builders, up to 70 to 75% of the finished value [Fix and flip loans](https://newyorkfixandfliploans.com/fix-and-flip-loans/) | Purchase plus renovation of a property you intend to sell | 90% of the purchase price and 100% of the rehab, up to 70 to 75% of after-repair value [Portfolio and commercial loans](https://newyorkfixandfliploans.com/hard-money-loan-programs/#portfolio) | A group of rentals under one note, or multifamily and commercial property | 80% on a portfolio purchase; commercial priced per deal Actual leverage depends on credit, track record, property type and location. Loans start at $75,000. ## Queens hard money loans: common questions ### Do you lend on two-family homes in Queens? Yes. We finance them as flips or as rentals, and both units’ rent counts toward a DSCR loan when the units are legal. ### Do you finance homes in the Rockaways? Yes. Check the flood zone first, because required flood insurance is part of the payment on a rental loan. ### Can I rent a Queens investment property short term? Local Law 18 bars renting out a whole home or apartment in the city for less than 30 days, so investment properties are underwritten on long-term rent. ### How fast can a loan close in Queens? Fix and flip loans average up to 21 days and can close in about 7 days when title and insurance are ready. Rental and DSCR loans take about 30 days, appraisal included. In New York each side is represented by an attorney, and a title company insures the title. ## Other markets we serve - [Brooklyn, NY](https://newyorkfixandfliploans.com/brooklyn-ny/) - [The Bronx, NY](https://newyorkfixandfliploans.com/bronx-ny/) - [Manhattan, NY](https://newyorkfixandfliploans.com/manhattan-ny/) - [Staten Island, NY](https://newyorkfixandfliploans.com/staten-island-ny/) - [Nassau County, NY](https://newyorkfixandfliploans.com/nassau-county-ny/) - [Suffolk County, NY](https://newyorkfixandfliploans.com/suffolk-county-ny/) - [Westchester County, NY](https://newyorkfixandfliploans.com/westchester-county-ny/) - [All service areas](https://newyorkfixandfliploans.com/areas-we-serve/) ## Looking at a property in Queens? Send the address, the price and what you plan to do with the property. We will reply with the leverage and pricing that fit your deal. - Call (954) 598-4564 - Email andrew@optimuscapitalcorp.com - [Get pre-qualified online](https://newyorkfixandfliploans.com/get-pre-qualified/) --- Source: https://newyorkfixandfliploans.com/bronx-ny/ Title: The Bronx, NY Hard Money & Fix and Flip Loans Summary: Fix and flip, DSCR rental and construction loans for The Bronx, NY investors. 90% of purchase and 100% of rehab on flips, up to 85% LTV on rentals. [Home](https://newyorkfixandfliploans.com/) / [Areas we serve](https://newyorkfixandfliploans.com/areas-we-serve/) / The Bronx, NY # Hard money and fix and flip loans in The Bronx, New York Loans for two- and three-family homes, small apartment buildings and renovations across the Bronx. [Get pre-qualified](https://newyorkfixandfliploans.com/get-pre-qualified/) Call (954) 598-4564 ## The The Bronx market for investors The Bronx has the lowest entry prices in New York City and a large stock of two- and three-family homes and walk-up and elevator apartment buildings. Strong rental demand and new development along the Harlem River and in the South Bronx have drawn more investors. Investors renovate multi-family homes for resale or rent, buy small buildings to hold, and build new two- and three-family homes on infill lots. Rent stabilization covers much of the older apartment stock, so the rent roll is central to every deal. ## Neighborhoods investors ask about - Mott Haven and Port Morris: row houses and new development in the South Bronx - Wakefield, Williamsbridge and Eastchester: two- and three-family homes in the north Bronx - Parkchester, Castle Hill and Soundview: attached homes and condos - Throggs Neck, Pelham Bay and Country Club: detached homes on the east side - Riverdale: higher-priced homes and co-op-heavy apartment stock ## Plan for these on a The Bronx deal - New York City’s mortgage recording tax is about 1.8% of a loan under $500,000 and 1.925% at $500,000 or more on one- to three-family homes and condos, and 2.8% on larger buildings and commercial property at $500,000 or more. Build it into your cash to close. - On the sale, the seller customarily pays the city transfer tax (1% up to $500,000 and 1.425% above on one- to three-family homes) and the state transfer tax of 0.4%. Buyers at $1 million or more pay the mansion tax. - Buildings of six or more units built before 1974 are often rent stabilized, and Good Cause Eviction covers many other rentals unless an exemption applies, such as an owner with 10 or fewer units statewide. Ask for the rent roll and registration history before you sign. - Work that changes layout, structure, plumbing or the unit count needs Department of Buildings filings, usually through a registered architect or engineer, and a new certificate of occupancy for a change in units. - Paint in buildings built before 1960 is presumed to contain lead. Local Law 31 requires an XRF test in rental units of those buildings, including rentals in one- and two-family homes. ## Loans available in The Bronx Program | Use it for | Top leverage [DSCR rental loans](https://newyorkfixandfliploans.com/dscr-rental-loans/) | Purchase or refinance of long-term rentals, two- to four-family homes, condos and small multifamily | 85% loan-to-value to buy, 80% on a cash-out refinance [Ground-up construction loans](https://newyorkfixandfliploans.com/new-construction-loans/) | Building a home, a two- or three-family or a small apartment building, lot included | 90% of cost for experienced builders, up to 70 to 75% of the finished value [Fix and flip loans](https://newyorkfixandfliploans.com/fix-and-flip-loans/) | Purchase plus renovation of a property you intend to sell | 90% of the purchase price and 100% of the rehab, up to 70 to 75% of after-repair value [Portfolio and commercial loans](https://newyorkfixandfliploans.com/hard-money-loan-programs/#portfolio) | A group of rentals under one note, or multifamily and commercial property | 80% on a portfolio purchase; commercial priced per deal Actual leverage depends on credit, track record, property type and location. Loans start at $75,000. ## The Bronx hard money loans: common questions ### Do you offer hard money loans in the Bronx? Yes. We finance flips, two- and three-family rentals, small apartment buildings and new construction across the borough. ### Do you lend on rent-stabilized buildings? We review them case by case on the in-place rent roll. Stabilized rents are hard to raise, so the deal has to work on current income. ### Can I rent a Bronx investment property on Airbnb? Local Law 18 bars renting out a whole home or apartment in the city for less than 30 days, so investment properties are underwritten on long-term rent. ### How fast can a loan close in The Bronx? Fix and flip loans average up to 21 days and can close in about 7 days when title and insurance are ready. Rental and DSCR loans take about 30 days, appraisal included. In New York each side is represented by an attorney, and a title company insures the title. ## Other markets we serve - [Brooklyn, NY](https://newyorkfixandfliploans.com/brooklyn-ny/) - [Queens, NY](https://newyorkfixandfliploans.com/queens-ny/) - [Manhattan, NY](https://newyorkfixandfliploans.com/manhattan-ny/) - [Staten Island, NY](https://newyorkfixandfliploans.com/staten-island-ny/) - [Nassau County, NY](https://newyorkfixandfliploans.com/nassau-county-ny/) - [Suffolk County, NY](https://newyorkfixandfliploans.com/suffolk-county-ny/) - [Westchester County, NY](https://newyorkfixandfliploans.com/westchester-county-ny/) - [All service areas](https://newyorkfixandfliploans.com/areas-we-serve/) ## Looking at a property in The Bronx? Send the address, the price and what you plan to do with the property. We will reply with the leverage and pricing that fit your deal. - Call (954) 598-4564 - Email andrew@optimuscapitalcorp.com - [Get pre-qualified online](https://newyorkfixandfliploans.com/get-pre-qualified/) --- Source: https://newyorkfixandfliploans.com/manhattan-ny/ Title: Manhattan, NY Hard Money & Fix and Flip Loans Summary: Fix and flip, DSCR rental and construction loans for Manhattan, NY investors. 90% of purchase and 100% of rehab on flips, up to 85% LTV on rentals. [Home](https://newyorkfixandfliploans.com/) / [Areas we serve](https://newyorkfixandfliploans.com/areas-we-serve/) / Manhattan, NY # Hard money and fix and flip loans in Manhattan, New York Financing for townhouses, condos and mixed-use buildings in Manhattan, from Harlem to Lower Manhattan. [Get pre-qualified](https://newyorkfixandfliploans.com/get-pre-qualified/) Call (954) 598-4564 ## The Manhattan market for investors Manhattan has the highest prices in the region and a housing stock dominated by co-ops and condos, with townhouses in Harlem and on the brownstone blocks of the Upper West and Upper East Sides, and mixed-use walk-ups with retail on the ground floor. Investors renovate townhouses, buy condos to rent, and buy small mixed-use buildings to reposition. Co-op shares are not real property, and boards restrict investors, so investor lending here focuses on condos, townhouses and buildings. ## Areas investors ask about - Harlem and Hamilton Heights: brownstones and townhouses, much of them landmarked - Washington Heights and Inwood: apartment buildings and lower entry prices - Upper West Side and Upper East Side: high-end townhouses and condos - East Village and Lower East Side: mixed-use walk-ups with retail below ## Plan for these on a Manhattan deal - New York City’s mortgage recording tax is about 1.8% of a loan under $500,000 and 1.925% at $500,000 or more on one- to three-family homes and condos, and 2.8% on larger buildings and commercial property at $500,000 or more. Build it into your cash to close. - At $1 million or more, buyers of one- to three-family homes and condos pay the mansion tax, which rises in steps from 1% to 3.9% at $25 million or more. The seller customarily pays the city and state transfer taxes. - Large parts of Harlem, the Upper West Side and the Village are landmarked, so exterior work needs Landmarks Preservation Commission approval. - Work that changes layout, structure, plumbing or the unit count needs Department of Buildings filings, usually through a registered architect or engineer, and a new certificate of occupancy for a change in units. - Buildings of six or more units built before 1974 are often rent stabilized, and Good Cause Eviction covers many other rentals unless an exemption applies, such as an owner with 10 or fewer units statewide. Ask for the rent roll and registration history before you sign. ## Loans available in Manhattan Program | Use it for | Top leverage [DSCR rental loans](https://newyorkfixandfliploans.com/dscr-rental-loans/) | Purchase or refinance of long-term rentals, two- to four-family homes, condos and small multifamily | 85% loan-to-value to buy, 80% on a cash-out refinance [Ground-up construction loans](https://newyorkfixandfliploans.com/new-construction-loans/) | Building a home, a two- or three-family or a small apartment building, lot included | 90% of cost for experienced builders, up to 70 to 75% of the finished value [Fix and flip loans](https://newyorkfixandfliploans.com/fix-and-flip-loans/) | Purchase plus renovation of a property you intend to sell | 90% of the purchase price and 100% of the rehab, up to 70 to 75% of after-repair value [Portfolio and commercial loans](https://newyorkfixandfliploans.com/hard-money-loan-programs/#portfolio) | A group of rentals under one note, or multifamily and commercial property | 80% on a portfolio purchase; commercial priced per deal Actual leverage depends on credit, track record, property type and location. Loans start at $75,000. ## Manhattan hard money loans: common questions ### Do you lend on Manhattan condos? Yes, as investment property, including non-warrantable condos. We do not lend on co-op shares. ### Do you finance mixed-use buildings? Yes, through our commercial program, priced on the property and its income. ### Can I rent a Manhattan apartment short term? Local Law 18 bars renting out a whole home or apartment in the city for less than 30 days, so investment properties are underwritten on long-term rent. ### How fast can a loan close in Manhattan? Fix and flip loans average up to 21 days and can close in about 7 days when title and insurance are ready. Rental and DSCR loans take about 30 days, appraisal included. In New York each side is represented by an attorney, and a title company insures the title. ## Other markets we serve - [Brooklyn, NY](https://newyorkfixandfliploans.com/brooklyn-ny/) - [Queens, NY](https://newyorkfixandfliploans.com/queens-ny/) - [The Bronx, NY](https://newyorkfixandfliploans.com/bronx-ny/) - [Staten Island, NY](https://newyorkfixandfliploans.com/staten-island-ny/) - [Nassau County, NY](https://newyorkfixandfliploans.com/nassau-county-ny/) - [Suffolk County, NY](https://newyorkfixandfliploans.com/suffolk-county-ny/) - [Westchester County, NY](https://newyorkfixandfliploans.com/westchester-county-ny/) - [All service areas](https://newyorkfixandfliploans.com/areas-we-serve/) ## Looking at a property in Manhattan? Send the address, the price and what you plan to do with the property. We will reply with the leverage and pricing that fit your deal. - Call (954) 598-4564 - Email andrew@optimuscapitalcorp.com - [Get pre-qualified online](https://newyorkfixandfliploans.com/get-pre-qualified/) --- Source: https://newyorkfixandfliploans.com/staten-island-ny/ Title: Staten Island, NY Hard Money & Fix and Flip Loans Summary: Fix and flip, DSCR rental and construction loans for Staten Island, NY investors. 90% of purchase and 100% of rehab on flips, up to 85% LTV on rentals. [Home](https://newyorkfixandfliploans.com/) / [Areas we serve](https://newyorkfixandfliploans.com/areas-we-serve/) / Staten Island, NY # Hard money and fix and flip loans in Staten Island, New York Loans for detached and semi-detached houses to flip, two-family rentals and new construction on Staten Island. [Get pre-qualified](https://newyorkfixandfliploans.com/get-pre-qualified/) Call (954) 598-4564 ## The Staten Island market for investors Staten Island has more detached and semi-detached houses than any other borough, with larger lots and more driveways and yards than the rest of the city. It is also where new two-family construction is most common. Investors flip dated houses on the North and East shores, hold two-families as rentals, and build on infill lots. Parts of the East and South shores are in flood zones, which affects insurance and building requirements. ## Areas investors ask about - St. George, Stapleton and Tompkinsville: older homes near the ferry - Port Richmond, Mariners Harbor and West Brighton: lower-priced homes on the North Shore - Midland Beach, New Dorp and Great Kills: East and South Shore homes, many in flood zones - Tottenville and Huguenot: newer and larger homes on the South Shore ## Plan for these on a Staten Island deal - New York City’s mortgage recording tax is about 1.8% of a loan under $500,000 and 1.925% at $500,000 or more on one- to three-family homes and condos, and 2.8% on larger buildings and commercial property at $500,000 or more. Build it into your cash to close. - On the sale, the seller customarily pays the city transfer tax (1% up to $500,000 and 1.425% above on one- to three-family homes) and the state transfer tax of 0.4%. Buyers at $1 million or more pay the mansion tax. - Shoreline neighborhoods were hit hard by Hurricane Sandy, and many are in flood zones. Check the FEMA flood zone before you make an offer. Where flood insurance is required, the premium is part of the payment. - Work that changes layout, structure, plumbing or the unit count needs Department of Buildings filings, usually through a registered architect or engineer, and a new certificate of occupancy for a change in units. - Paint in buildings built before 1960 is presumed to contain lead. Local Law 31 requires an XRF test in rental units of those buildings, including rentals in one- and two-family homes. ## Loans available in Staten Island Program | Use it for | Top leverage [DSCR rental loans](https://newyorkfixandfliploans.com/dscr-rental-loans/) | Purchase or refinance of long-term rentals, two- to four-family homes, condos and small multifamily | 85% loan-to-value to buy, 80% on a cash-out refinance [Ground-up construction loans](https://newyorkfixandfliploans.com/new-construction-loans/) | Building a home, a two- or three-family or a small apartment building, lot included | 90% of cost for experienced builders, up to 70 to 75% of the finished value [Fix and flip loans](https://newyorkfixandfliploans.com/fix-and-flip-loans/) | Purchase plus renovation of a property you intend to sell | 90% of the purchase price and 100% of the rehab, up to 70 to 75% of after-repair value [Portfolio and commercial loans](https://newyorkfixandfliploans.com/hard-money-loan-programs/#portfolio) | A group of rentals under one note, or multifamily and commercial property | 80% on a portfolio purchase; commercial priced per deal Actual leverage depends on credit, track record, property type and location. Loans start at $75,000. ## Staten Island hard money loans: common questions ### Do you finance flips on Staten Island? Yes, at up to 90% of the purchase and 100% of the rehab at a 720+ credit score, within 70 to 75% of the after-repair value. ### Do you lend on new two-family construction? Yes, at up to 90% of cost for experienced builders, with the lot included. ### How fast can a loan close in Staten Island? Fix and flip loans average up to 21 days and can close in about 7 days when title and insurance are ready. Rental and DSCR loans take about 30 days, appraisal included. In New York each side is represented by an attorney, and a title company insures the title. ## Other markets we serve - [Brooklyn, NY](https://newyorkfixandfliploans.com/brooklyn-ny/) - [Queens, NY](https://newyorkfixandfliploans.com/queens-ny/) - [The Bronx, NY](https://newyorkfixandfliploans.com/bronx-ny/) - [Manhattan, NY](https://newyorkfixandfliploans.com/manhattan-ny/) - [Nassau County, NY](https://newyorkfixandfliploans.com/nassau-county-ny/) - [Suffolk County, NY](https://newyorkfixandfliploans.com/suffolk-county-ny/) - [Westchester County, NY](https://newyorkfixandfliploans.com/westchester-county-ny/) - [All service areas](https://newyorkfixandfliploans.com/areas-we-serve/) ## Looking at a property in Staten Island? Send the address, the price and what you plan to do with the property. We will reply with the leverage and pricing that fit your deal. - Call (954) 598-4564 - Email andrew@optimuscapitalcorp.com - [Get pre-qualified online](https://newyorkfixandfliploans.com/get-pre-qualified/) --- Source: https://newyorkfixandfliploans.com/nassau-county-ny/ Title: Nassau County, NY Hard Money & Fix and Flip Loans Summary: Fix and flip, DSCR rental and construction loans for Nassau County, NY investors. 90% of purchase and 100% of rehab on flips, up to 85% LTV on rentals. [Home](https://newyorkfixandfliploans.com/) / [Areas we serve](https://newyorkfixandfliploans.com/areas-we-serve/) / Nassau County, NY # Hard money and fix and flip loans in Nassau County, New York Financing for single-family flips, rentals and tear-down rebuilds across Nassau County on Long Island. [Get pre-qualified](https://newyorkfixandfliploans.com/get-pre-qualified/) Call (954) 598-4564 ## The Nassau County market for investors Nassau County borders Queens and is mostly single-family homes, many of them Cape Cods, ranches and colonials built after World War II. Commuter rail service into Manhattan and strong school districts support high home values and steady demand. Investors renovate dated houses for resale, hold single-family rentals, and knock down and rebuild on desirable lots. Each village, town and city has its own building department, so permit times vary by address. ## Areas investors ask about - Hempstead, Uniondale, Freeport and Roosevelt: lower-priced homes to renovate - Valley Stream, Elmont and Baldwin: homes close to the Queens line - Long Beach, Oceanside and Island Park: South Shore homes, many in flood zones - Garden City, Manhasset and Great Neck: higher-priced homes and rebuilds ## Plan for these on a Nassau County deal - Outside New York City the mortgage recording tax is lower than in the city but still applies when the loan is recorded. Include it in your closing costs. - Nassau has its own villages, towns and cities, each with a building department and zoning code. Confirm which one covers the address. - South Shore communities are often in flood zones. Check the FEMA flood zone before you make an offer. Where flood insurance is required, the premium is part of the payment. - Many Long Island towns license rentals and regulate short-term rentals. Check the town’s rules before you underwrite. ## Loans available in Nassau County Program | Use it for | Top leverage [DSCR rental loans](https://newyorkfixandfliploans.com/dscr-rental-loans/) | Purchase or refinance of long-term rentals, two- to four-family homes, condos and small multifamily | 85% loan-to-value to buy, 80% on a cash-out refinance [Ground-up construction loans](https://newyorkfixandfliploans.com/new-construction-loans/) | Building a home, a two- or three-family or a small apartment building, lot included | 90% of cost for experienced builders, up to 70 to 75% of the finished value [Fix and flip loans](https://newyorkfixandfliploans.com/fix-and-flip-loans/) | Purchase plus renovation of a property you intend to sell | 90% of the purchase price and 100% of the rehab, up to 70 to 75% of after-repair value [Portfolio and commercial loans](https://newyorkfixandfliploans.com/hard-money-loan-programs/#portfolio) | A group of rentals under one note, or multifamily and commercial property | 80% on a portfolio purchase; commercial priced per deal Actual leverage depends on credit, track record, property type and location. Loans start at $75,000. ## Nassau County hard money loans: common questions ### Do you lend in Nassau County? Yes. We finance fix and flips, rentals and construction throughout the county. ### Do you finance tear-down rebuilds on Long Island? Yes, as ground-up construction loans at up to 90% of cost for experienced builders, with the lot included. ### How fast can a loan close in Nassau County? Fix and flip loans average up to 21 days and can close in about 7 days when title and insurance are ready. Rental and DSCR loans take about 30 days, appraisal included. In New York each side is represented by an attorney, and a title company insures the title. ## Other markets we serve - [Brooklyn, NY](https://newyorkfixandfliploans.com/brooklyn-ny/) - [Queens, NY](https://newyorkfixandfliploans.com/queens-ny/) - [The Bronx, NY](https://newyorkfixandfliploans.com/bronx-ny/) - [Manhattan, NY](https://newyorkfixandfliploans.com/manhattan-ny/) - [Staten Island, NY](https://newyorkfixandfliploans.com/staten-island-ny/) - [Suffolk County, NY](https://newyorkfixandfliploans.com/suffolk-county-ny/) - [Westchester County, NY](https://newyorkfixandfliploans.com/westchester-county-ny/) - [All service areas](https://newyorkfixandfliploans.com/areas-we-serve/) ## Looking at a property in Nassau County? Send the address, the price and what you plan to do with the property. We will reply with the leverage and pricing that fit your deal. - Call (954) 598-4564 - Email andrew@optimuscapitalcorp.com - [Get pre-qualified online](https://newyorkfixandfliploans.com/get-pre-qualified/) --- Source: https://newyorkfixandfliploans.com/suffolk-county-ny/ Title: Suffolk County, NY Hard Money & Fix and Flip Loans Summary: Fix and flip, DSCR rental and construction loans for Suffolk County, NY investors. 90% of purchase and 100% of rehab on flips, up to 85% LTV on rentals. [Home](https://newyorkfixandfliploans.com/) / [Areas we serve](https://newyorkfixandfliploans.com/areas-we-serve/) / Suffolk County, NY # Hard money and fix and flip loans in Suffolk County, New York Loans for single-family flips, rentals and new construction across Suffolk County, from the western towns to the East End. [Get pre-qualified](https://newyorkfixandfliploans.com/get-pre-qualified/) Call (954) 598-4564 ## The Suffolk County market for investors Suffolk County covers the eastern two-thirds of Long Island, with larger lots, more new construction than Nassau, and a wide price range from the western towns to the Hamptons and the North Fork. Investors renovate dated homes in Babylon, Islip and Brookhaven, hold single-family rentals, and build on larger lots. On the East End, seasonal rental rules and high land values shape every deal. ## Areas investors ask about - Babylon, Islip and Brentwood: lower-priced homes to renovate in western Suffolk - Brookhaven, Medford and Patchogue: central Suffolk homes and new construction - Huntington and Smithtown: higher-priced North Shore homes - The Hamptons and the North Fork: high-value homes and new construction on the East End ## Plan for these on a Suffolk County deal - Outside New York City the mortgage recording tax is lower than in the city but still applies when the loan is recorded. Include it in your closing costs. - Each town, and many villages, sets its own rental permit and short-term rental rules. East End towns are especially strict. Check before you underwrite on seasonal rent. - Waterfront and South Shore homes are often in flood zones. Check the FEMA flood zone before you make an offer. Where flood insurance is required, the premium is part of the payment. - Many homes in Suffolk use septic systems, and the county has been moving toward newer nitrogen-reducing systems. Price septic work into the scope. ## Loans available in Suffolk County Program | Use it for | Top leverage [DSCR rental loans](https://newyorkfixandfliploans.com/dscr-rental-loans/) | Purchase or refinance of long-term rentals, two- to four-family homes, condos and small multifamily | 85% loan-to-value to buy, 80% on a cash-out refinance [Ground-up construction loans](https://newyorkfixandfliploans.com/new-construction-loans/) | Building a home, a two- or three-family or a small apartment building, lot included | 90% of cost for experienced builders, up to 70 to 75% of the finished value [Fix and flip loans](https://newyorkfixandfliploans.com/fix-and-flip-loans/) | Purchase plus renovation of a property you intend to sell | 90% of the purchase price and 100% of the rehab, up to 70 to 75% of after-repair value [Portfolio and commercial loans](https://newyorkfixandfliploans.com/hard-money-loan-programs/#portfolio) | A group of rentals under one note, or multifamily and commercial property | 80% on a portfolio purchase; commercial priced per deal Actual leverage depends on credit, track record, property type and location. Loans start at $75,000. ## Suffolk County hard money loans: common questions ### Do you lend in Suffolk County? Yes. We finance fix and flips, rentals and ground-up construction across the county. ### Do you finance new construction on the East End? Yes, at up to 90% of cost for experienced builders, within 70 to 75% of the finished value. ### How fast can a loan close in Suffolk County? Fix and flip loans average up to 21 days and can close in about 7 days when title and insurance are ready. Rental and DSCR loans take about 30 days, appraisal included. In New York each side is represented by an attorney, and a title company insures the title. ## Other markets we serve - [Brooklyn, NY](https://newyorkfixandfliploans.com/brooklyn-ny/) - [Queens, NY](https://newyorkfixandfliploans.com/queens-ny/) - [The Bronx, NY](https://newyorkfixandfliploans.com/bronx-ny/) - [Manhattan, NY](https://newyorkfixandfliploans.com/manhattan-ny/) - [Staten Island, NY](https://newyorkfixandfliploans.com/staten-island-ny/) - [Nassau County, NY](https://newyorkfixandfliploans.com/nassau-county-ny/) - [Westchester County, NY](https://newyorkfixandfliploans.com/westchester-county-ny/) - [All service areas](https://newyorkfixandfliploans.com/areas-we-serve/) ## Looking at a property in Suffolk County? Send the address, the price and what you plan to do with the property. We will reply with the leverage and pricing that fit your deal. - Call (954) 598-4564 - Email andrew@optimuscapitalcorp.com - [Get pre-qualified online](https://newyorkfixandfliploans.com/get-pre-qualified/) --- Source: https://newyorkfixandfliploans.com/westchester-county-ny/ Title: Westchester County, NY Hard Money & Fix and Flip Loans Summary: Fix and flip, DSCR rental and construction loans for Westchester County, NY investors. 90% of purchase and 100% of rehab on flips, up to 85% LTV on rentals. [Home](https://newyorkfixandfliploans.com/) / [Areas we serve](https://newyorkfixandfliploans.com/areas-we-serve/) / Westchester County, NY # Hard money and fix and flip loans in Westchester County, New York Financing for two- and three-family homes, single-family renovations and small multifamily in Westchester, from Yonkers to the northern towns. [Get pre-qualified](https://newyorkfixandfliploans.com/get-pre-qualified/) Call (954) 598-4564 ## The Westchester County market for investors Westchester sits just north of the Bronx, with Metro-North service into Manhattan. Its southern cities, Yonkers, Mount Vernon and New Rochelle, have older two- and three-family homes and apartment buildings, while the towns farther north are mostly single-family. Investors renovate and rent multi-family homes in the southern cities, flip single-family homes in established suburbs, and build where zoning allows. Several Westchester municipalities have opted into rent stabilization for older apartment buildings, so check the address. ## Areas investors ask about - Yonkers: two- and three-family homes and apartment buildings, the county’s largest city - Mount Vernon and New Rochelle: older multi-family homes near Metro-North - White Plains and Port Chester: mixed housing and small multifamily - Northern Westchester towns: single-family homes and rebuilds ## Plan for these on a Westchester County deal - Outside New York City the mortgage recording tax is lower than in the city but still applies when the loan is recorded. Include it in your closing costs. - Some Westchester cities and villages, including Yonkers, Mount Vernon and New Rochelle, apply rent stabilization to older buildings of six or more units. Ask for the rent registration history. - Each city, town and village runs its own building department. Confirm permit timing for the address. ## Loans available in Westchester County Program | Use it for | Top leverage [DSCR rental loans](https://newyorkfixandfliploans.com/dscr-rental-loans/) | Purchase or refinance of long-term rentals, two- to four-family homes, condos and small multifamily | 85% loan-to-value to buy, 80% on a cash-out refinance [Ground-up construction loans](https://newyorkfixandfliploans.com/new-construction-loans/) | Building a home, a two- or three-family or a small apartment building, lot included | 90% of cost for experienced builders, up to 70 to 75% of the finished value [Fix and flip loans](https://newyorkfixandfliploans.com/fix-and-flip-loans/) | Purchase plus renovation of a property you intend to sell | 90% of the purchase price and 100% of the rehab, up to 70 to 75% of after-repair value [Portfolio and commercial loans](https://newyorkfixandfliploans.com/hard-money-loan-programs/#portfolio) | A group of rentals under one note, or multifamily and commercial property | 80% on a portfolio purchase; commercial priced per deal Actual leverage depends on credit, track record, property type and location. Loans start at $75,000. ## Westchester County hard money loans: common questions ### Do you lend in Yonkers and Mount Vernon? Yes. We finance flips and two- and three-family rentals, and both rents count toward a DSCR loan when the units are legal. ### Do you lend throughout Westchester? Yes, across the county’s cities, towns and villages. ### How fast can a loan close in Westchester County? Fix and flip loans average up to 21 days and can close in about 7 days when title and insurance are ready. Rental and DSCR loans take about 30 days, appraisal included. In New York each side is represented by an attorney, and a title company insures the title. ## Other markets we serve - [Brooklyn, NY](https://newyorkfixandfliploans.com/brooklyn-ny/) - [Queens, NY](https://newyorkfixandfliploans.com/queens-ny/) - [The Bronx, NY](https://newyorkfixandfliploans.com/bronx-ny/) - [Manhattan, NY](https://newyorkfixandfliploans.com/manhattan-ny/) - [Staten Island, NY](https://newyorkfixandfliploans.com/staten-island-ny/) - [Nassau County, NY](https://newyorkfixandfliploans.com/nassau-county-ny/) - [Suffolk County, NY](https://newyorkfixandfliploans.com/suffolk-county-ny/) - [All service areas](https://newyorkfixandfliploans.com/areas-we-serve/) ## Looking at a property in Westchester County? Send the address, the price and what you plan to do with the property. We will reply with the leverage and pricing that fit your deal. - Call (954) 598-4564 - Email andrew@optimuscapitalcorp.com - [Get pre-qualified online](https://newyorkfixandfliploans.com/get-pre-qualified/) --- Source: https://newyorkfixandfliploans.com/blog/ Title: New York Investor Guides & Blog | New York Fix and Flip Loans Summary: Guides for New York real estate investors: flips, short-term rental rules, transfer and mortgage recording taxes, rent stabilization and DSCR loans. [Home](https://newyorkfixandfliploans.com/) / Blog # Guides for New York real estate investors Plain-language articles on brownstone and multifamily flips, New York City rental rules, closing taxes, rent stabilization and DSCR loans in New York. - ## [Cost Segregation for New York Rental Property: Bigger Deductions in Year One](https://newyorkfixandfliploans.com/cost-segregation-new-york-rental-property/) How a cost segregation study front-loads depreciation on a New York rental, what 100% bonus depreciation changes, and why your New York State return is different. - ## [Fix and Flip Loans in New York: How to Finance a Renovation](https://newyorkfixandfliploans.com/fix-and-flip-loans-new-york-guide/) How a fix and flip loan is sized on a New York house, what recording and transfer taxes, permits and landmarks review do to the budget, and how to plan the exit. - ## [New York City Short-Term Rental Rules: What Investors Need to Know](https://newyorkfixandfliploans.com/nyc-short-term-rental-rules-investors/) What Local Law 18 allows and bans, why whole-home rentals under 30 days are off the table in the city, and what that means for underwriting a New York rental. - ## [New York Closing Costs for Investors: Mortgage Recording, Transfer and Mansion Taxes](https://newyorkfixandfliploans.com/new-york-closing-taxes-investors/) How New York City’s mortgage recording tax, the city and state transfer taxes and the mansion tax work on an investment purchase, a refinance and a flip. - ## [Rent Stabilization and Good Cause Eviction: A Guide for New York Investors](https://newyorkfixandfliploans.com/rent-stabilization-good-cause-eviction-investors/) Which New York buildings are rent stabilized, what the 2019 rent law changed, how Good Cause Eviction works and who is exempt, and how each affects a purchase and a loan. - ## [DSCR Loans for New York Rental Property: How They Work](https://newyorkfixandfliploans.com/dscr-loans-new-york-rental-property/) How a DSCR loan qualifies a New York rental on its rent, what counts in the payment, and how New York’s taxes and rent rules affect the ratio. - ## [Hard Money Loan Document Checklist](https://newyorkfixandfliploans.com/hard-money-loans-document-list/) What to gather for a rental (DSCR) loan, a new construction loan and a fix and flip loan, divided into one-time documents and documents for each deal. ## Have a New York deal in mind? Run it by us. Send the address, the price and what you plan to do with the property. We will reply with the leverage and pricing that fit your deal. - Call (954) 598-4564 - Email andrew@optimuscapitalcorp.com - [Get pre-qualified online](https://newyorkfixandfliploans.com/get-pre-qualified/) --- Source: https://newyorkfixandfliploans.com/cost-segregation-new-york-rental-property/ Title: Cost Segregation for New York Rentals (2026 Guide) Summary: How a cost segregation study front-loads depreciation on a New York rental, what 100% bonus depreciation changes, and why your New York State return is [Home](https://newyorkfixandfliploans.com/) / [Blog](https://newyorkfixandfliploans.com/blog/) / Cost Segregation for New York Rental Property: Bigger Deductions in Year One # Cost Segregation for New York Rental Property: Bigger Deductions in Year One By [Andrew Shanti](https://newyorkfixandfliploans.com/about-us/#andrew-shanti) · Updated November 6, 2026 A cost segregation study moves part of a rental’s purchase price out of the building, which is written off over decades, and into parts that can be written off much faster. With 100% bonus depreciation back for property acquired after January 19, 2025, most of that faster write-off can land in the first year. For investors holding two- to four-family homes, brownstones, condos and small buildings in New York City, Long Island and Westchester, it can change the after-tax return of a deal. This article explains how it works for investors. It is general information, not tax advice. The rules have conditions, and your CPA should confirm how they apply to you before you act. ## What cost segregation is When you buy a rental, the land is not depreciable, and the building is normally written off in equal amounts over 27.5 years for residential rental property or 39 years for nonresidential property. A cost segregation study, prepared by an engineer or a specialist firm, breaks the purchase price into its parts and assigns each part its proper recovery period. The parts that are not structural can be depreciated far faster than the building. Class | Typical items in a rental | Recovery period Personal property | Appliances, carpet and some flooring, cabinets and fixtures that are not part of the building, window treatments, furniture in a furnished rental | 5 years Land improvements | Driveways, parking, fencing, walkways, patios, landscaping, outdoor lighting, site drainage and utilities | 15 years Building | Foundation, framing, roof, walls, windows, plumbing, electrical, HVAC | 27.5 or 39 years Classifications depend on the facts of each property and are set by the study. ## Why New York rentals can be good candidates - Two- to four-family homes. Each unit has its own kitchen, baths, appliances and often its own heating and electrical, all short-life parts a study can separate out. - Renovated brownstones and row houses. A gut renovation adds new appliances, flooring, cabinets, fixtures and site work. - Condos. A condo’s price is mostly the unit, not land, so more of it is depreciable. - Watch the land share. In Manhattan and much of Brooklyn, land can be a large share of a house’s price, and land is never depreciable. ## New York specifics: brownstones, landmarks and mixed-use buildings Much of the city’s rental stock is brownstones, row houses and two- to four-family homes a century old or more, and most are renovated around a sale. If you put new kitchens, baths, flooring and heating into each unit, a study done once the work is finished can separate those short-life parts from the building, and a partial disposition election can write off the old components you removed. If a rental is a contributing building in a historic district, such as Park Slope, Fort Greene or much of Harlem, and the renovation is a certified rehabilitation, it may qualify for the 20% federal historic tax credit, and New York State has its own credit for some income-producing historic rehabilitations. A credit reduces the depreciable basis, so plan the study and the credit together with your CPA. Mixed-use buildings need care. A building is depreciated over 27.5 years only if at least 80% of its rent comes from dwelling units. A walk-up with a large store below may fall short and be depreciated over 39 years, which makes the 5- and 15-year parts a study finds even more valuable. ## 100% bonus depreciation is back, and permanent The 2025 federal tax law, known as the One Big Beautiful Bill Act, made 100% bonus depreciation permanent for qualified property acquired after January 19, 2025. Qualified property generally means assets with a recovery period of 20 years or less, which includes the 5-year and 15-year parts a study identifies. Those parts can be deducted in full in the year the property is placed in service. The building itself is not eligible. Property acquired before January 20, 2025 and placed in service in 2025 qualifies for 40% bonus depreciation instead. If you signed a binding contract before January 20, 2025, the property may not qualify for 100% even if it closed later. The IRS issued interim guidance on these rules in Notice 2026-11. ## An illustration Purchase price of a rental | $1,200,000 Allocated to land | $400,000 Building and site improvements | $800,000 Reclassified to 5- and 15-year property (20%, assumed) | $160,000 Deducted in year one with 100% bonus depreciation | $160,000, plus regular depreciation on the remaining $640,000 Federal tax value of the bonus deduction at a 35% bracket | About $56,000 For illustration only. The land allocation, the reclassified share and your tax bracket will differ, and the study sets the actual figures. Without a study, the same property would produce roughly $29,100 of depreciation a year on a 27.5-year schedule. ## Who can use the deduction Depreciation this large usually creates a loss on paper. Rental losses are normally passive, which means they can offset only passive income, and the unused loss carries forward to future years and to the year you sell. Three rules decide whether you can use the loss sooner. - The $25,000 allowance. If you actively participate in managing a long-term rental, up to $25,000 of rental losses a year can offset other income. The allowance phases out as modified adjusted gross income rises from $100,000 to $150,000. - Real estate professional status. If you spend more than 750 hours a year and more than half of your working time in real estate businesses in which you materially participate, rental losses can be nonpassive and offset wages or business income. - Short-term rentals. A short-term rental with an average stay of seven days or less is treated differently under the passive loss rules, but New York City’s Local Law 18 bars renting out a whole home for less than 30 days, so this rarely applies to an investment property in the city. See our guide to [New York City short-term rental rules](https://newyorkfixandfliploans.com/nyc-short-term-rental-rules-investors/). If none of these applies, the study still works: the deductions shelter the property’s own rental income, then other passive income, and any remainder is used when you sell. ## Flips do not qualify A house bought to renovate and resell is generally treated as inventory, not as a rental, so it is not depreciated at all. Cost segregation applies to property you hold and rent. If you renovate a house and decide to keep it as a rental, a study after the work is done can capture the new appliances, flooring and site work, and a partial disposition election can write off components you removed. See [fix and flip loans](https://newyorkfixandfliploans.com/fix-and-flip-loans/) and [DSCR rental loans](https://newyorkfixandfliploans.com/dscr-rental-loans/). ## The state return New York State has not followed federal bonus depreciation since 2003, apart from narrow exceptions, and New York City’s personal income tax follows the state, so your New York returns generally depreciate those parts over their normal recovery periods instead. The full first-year benefit is on your federal return. Ask your CPA how your own returns treat it. ## Timing, cost and the catch on resale - Order the study for the year the property is placed in service, so the deduction is on that year’s return. - Bought a rental in an earlier year? A look-back study can still capture missed depreciation through a change in accounting method on Form 3115, generally without amending old returns. - Weigh the fee against the benefit. Studies on single-family rentals and small multifamily are often priced for smaller properties. Your CPA can tell you whether the deduction justifies the cost. - Depreciation is recaptured when you sell. The depreciation you claim reduces your basis, and much of it is taxed when the property is sold, part of it at ordinary income rates. A 1031 exchange into another property can defer it. ## How this fits your financing A DSCR loan qualifies the property on its rental income, not on your tax return. A large depreciation loss can make a personal return look weak to a conventional lender, but it does not affect the debt service coverage ratio we use. The tax you save can go toward reserves or the down payment on the next rental. See [DSCR rental loans](https://newyorkfixandfliploans.com/dscr-rental-loans/), [how DSCR loans work on New York rentals](https://newyorkfixandfliploans.com/dscr-loans-new-york-rental-property/) and [construction loans](https://newyorkfixandfliploans.com/new-construction-loans/). ## Common questions ### What is cost segregation on a New York rental property? It is a study that splits a rental’s cost into building, land improvements and personal property such as appliances and flooring. The non-building parts are depreciated over 5 or 15 years instead of 27.5 or 39, which moves deductions into the early years of ownership. ### Does 100% bonus depreciation apply to a rental I buy in 2026? Generally yes. Under the 2025 tax law, 100% bonus depreciation is permanent for qualified property acquired after January 19, 2025, which covers the 5- and 15-year parts identified by a study. The building itself is not eligible. ### Can depreciation from a long-term rental offset my W-2 income? Up to $25,000 a year can, if you actively participate and your modified adjusted gross income is under $100,000, phasing out by $150,000. Real estate professionals can use the full loss. Otherwise it carries forward. ### Can I use cost segregation on a fix and flip? Generally no. A property bought to resell is inventory and is not depreciated. Cost segregation applies to property you hold as a rental. ### Will a big depreciation loss hurt my DSCR loan application? No. A DSCR loan is sized on the property’s rent against its monthly payment. We do not use your tax returns to qualify you. This article is general information and not tax or legal advice. Talk to a CPA who works with rental property owners before you order a study. When you are ready to finance a rental, [get pre-qualified](https://newyorkfixandfliploans.com/get-pre-qualified/) or call (954) 598-4564. [Andrew Shanti](https://newyorkfixandfliploans.com/about-us/#andrew-shanti) Senior Vice President, New York Fix and Flip Loans · Optimus Capital Corp Andrew has worked in lending and real estate since 2005 as a principal, executive and investor, across residential and commercial property. He has facilitated more than $25 billion in off-market commercial real estate offers for clients. [More about Andrew](https://newyorkfixandfliploans.com/about-us/#andrew-shanti) · (954) 598-4564 · [LinkedIn](https://www.linkedin.com/in/andrew-shanti-6a07631a/) ## Have a New York deal in mind? Run it by us. Send the address, the price and what you plan to do with the property. We will reply with the leverage and pricing that fit your deal. - Call (954) 598-4564 - Email andrew@optimuscapitalcorp.com - [Get pre-qualified online](https://newyorkfixandfliploans.com/get-pre-qualified/) --- Source: https://newyorkfixandfliploans.com/fix-and-flip-loans-new-york-guide/ Title: Fix and Flip Loans in New York: Financing a Renovation Summary: How a fix and flip loan is sized on a New York house, what recording and transfer taxes, permits and landmarks review do to the budget, and how to plan the [Home](https://newyorkfixandfliploans.com/) / [Blog](https://newyorkfixandfliploans.com/blog/) / Fix and Flip Loans in New York: How to Finance a Renovation # Fix and Flip Loans in New York: How to Finance a Renovation By [Andrew Shanti](https://newyorkfixandfliploans.com/about-us/#andrew-shanti) · Updated November 6, 2026 Most of New York City’s houses are old: brownstones and row houses in Brooklyn and Harlem, two-families in Queens and the Bronx, frame houses on Staten Island. Many still have original wiring, plumbing and layouts, and a full renovation can add a great deal of value. The financing has to cover the purchase, the whole renovation, the closing taxes, and a timeline that includes Department of Buildings approvals and, on landmarked blocks, Landmarks Preservation Commission review. ## How the loan is sized A fix and flip loan combines a share of the purchase price with the renovation budget, and the total is capped at a share of the after-repair value (ARV). Purchase price of a two-family | $900,000 Rehab budget | $250,000 After-repair value | $1,600,000 90% of purchase | $810,000 100% of rehab | $250,000 Loan | $1,060,000 75% of ARV ceiling | $1,200,000 Cash to close, before costs | $90,000 For illustration only. Top leverage applies at a 720+ credit score. The rehab money is not paid at closing. It is held back and released in draws as each stage of work is inspected and completed, so you or your contractor need enough cash to start each stage. ## Closing costs that are specific to New York - Mortgage recording tax when you buy. In New York City the borrower’s share is about 1.8% of a loan under $500,000 and 1.925% at $500,000 or more on one- to three-family homes and condos, and 2.8% on commercial property and buildings of four or more units at $500,000 or more. On a $1,060,000 loan on a two-family that is roughly $20,400. - Mansion tax when you buy. On one- to three-family homes and condos priced at $1 million or more, the buyer pays a mansion tax that starts at 1%. - Transfer taxes when you sell. The seller customarily pays the city transfer tax, 1% up to $500,000 and 1.425% above that on one- to three-family homes, plus the state transfer tax of 0.4%. On a $1,600,000 sale that is about $29,200. - Attorneys. Each side is represented by an attorney in New York, so budget legal fees at both ends. ## Permits and landmarks Work that changes structure, plumbing, electrical, the layout or the number of units needs Department of Buildings filings, usually through a registered architect or engineer, and a change in units needs a new certificate of occupancy. Large parts of Brooklyn and Manhattan are landmarked, including Park Slope, Brooklyn Heights, Fort Greene and much of Harlem, and exterior changes there also need a Landmarks Preservation Commission permit. - Ask your architect for a realistic approval timeline before you make an offer. - Choose a loan term that covers approvals and construction. Our flip loans run 6 to 24 months. - Carry the monthly interest for the whole period in your numbers. ## What old New York houses hide - Lead paint. Paint in buildings built before 1960 is presumed to contain lead, and lead-safe work practices apply. If you rent the property, Local Law 31 requires an XRF test of the rental units. - Unit count. The legal number of units on the certificate of occupancy decides what you can sell. An illegal basement or cellar apartment is a liability, not income. - Old systems. Original wiring, galvanized and cast-iron pipes, old boilers and oil tanks are frequent replacements. - Structure. Party walls, rear walls, sagging floors and brownstone facades can need engineering. ## Tenants in place A building with tenants can limit what you can do. Many buildings of six or more units built before 1974 are rent stabilized, and Good Cause Eviction protects tenants in many other New York City rentals unless an exemption applies, such as an owner with 10 or fewer units statewide. Ask for the rent roll and registration history, and talk to your attorney, before you sign. ## The exit Most flips end in a sale to an owner-occupant, so your after-repair value should come from recent sales of renovated homes nearby. If the market slows, a [DSCR rental loan](https://newyorkfixandfliploans.com/dscr-rental-loans/) can replace the flip loan and turn the house into a long-term rental, with a cash-out refinance at up to 80% loan-to-value. ## Common questions ### How much of a New York flip will you finance? Up to 90% of the purchase and 100% of the rehab at a 720+ credit score, within 70 to 75% of the after-repair value. ### What closing taxes should I budget for on a New York City flip? The mortgage recording tax and, at $1 million or more, the mansion tax when you buy, and the city and state transfer taxes when you sell. ### How long a term should I choose? Long enough to cover Department of Buildings approvals, any landmarks review and the construction, with a cushion. Our terms run 6 to 24 months with no prepayment penalty. ### Can I flip a co-op apartment with your loan? No. Co-ops are shares in a corporation, not real property, so we lend on houses, condos and buildings instead. [Andrew Shanti](https://newyorkfixandfliploans.com/about-us/#andrew-shanti) Senior Vice President, New York Fix and Flip Loans · Optimus Capital Corp Andrew has worked in lending and real estate since 2005 as a principal, executive and investor, across residential and commercial property. He has facilitated more than $25 billion in off-market commercial real estate offers for clients. [More about Andrew](https://newyorkfixandfliploans.com/about-us/#andrew-shanti) · (954) 598-4564 · [LinkedIn](https://www.linkedin.com/in/andrew-shanti-6a07631a/) ## Have a New York deal in mind? Run it by us. Send the address, the price and what you plan to do with the property. We will reply with the leverage and pricing that fit your deal. - Call (954) 598-4564 - Email andrew@optimuscapitalcorp.com - [Get pre-qualified online](https://newyorkfixandfliploans.com/get-pre-qualified/) --- Source: https://newyorkfixandfliploans.com/nyc-short-term-rental-rules-investors/ Title: NYC Short-Term Rental Rules (Local Law 18) for Investors Summary: What Local Law 18 allows and bans, why whole-home rentals under 30 days are off the table in the city, and what that means for underwriting a New York rental. [Home](https://newyorkfixandfliploans.com/) / [Blog](https://newyorkfixandfliploans.com/blog/) / New York City Short-Term Rental Rules: What Investors Need to Know # New York City Short-Term Rental Rules: What Investors Need to Know By [Andrew Shanti](https://newyorkfixandfliploans.com/about-us/#andrew-shanti) · Updated November 6, 2026 New York City has some of the strictest short-term rental rules in the country. Local Law 18 took effect in September 2023, and it changed what investors can plan on. If a deal only works as an Airbnb inside the five boroughs, it probably does not work. ## What Local Law 18 requires - Registration. Every short-term host must register with the Mayor’s Office of Special Enforcement, and only the permanent occupant of the home can register it. - The host lives there. A short-term rental is legal only when the host lives in the same home as the guests and the guests have access to the whole unit. - Two guests at most. No more than two paying guests at a time, not counting young children. - No whole-home rentals under 30 days. Renting out an entire house or apartment for less than 30 days is prohibited, whether the owner lives in the building or not. - Buildings can opt out. Registration is refused for rent-regulated units, public housing and buildings whose owners have put them on the prohibited buildings list. ## What it means for an investment property An investor who does not live in the home cannot legally rent it out by the night. That is why we underwrite New York City rentals on long-term rent, using the lease or the market rent in the appraisal. ## Rentals of 30 days or more Stays of 30 days or longer are not short-term rentals under the law. Furnished rentals of a month or more, for traveling nurses, corporate housing or people between homes, are legal, but tenants who stay 30 days or more can gain tenant rights. Talk to your attorney before you build a business on furnished monthly rentals. ## Outside the city Long Island and Westchester towns set their own rules. Many require a rental permit, some limit short stays, and East End towns such as Southampton and East Hampton regulate seasonal rentals closely. Check the town code for the address before you count on short-term income. ## Common questions ### Can I buy a house in Brooklyn and rent it on Airbnb? Not as a whole-home rental for less than 30 days. Local Law 18 allows short stays only when the host lives in the home with no more than two guests. ### Will you count Airbnb income for a DSCR loan in New York City? Generally not. We underwrite city rentals on long-term rent. ### Do the rules apply on Long Island? Local Law 18 applies only inside New York City. Long Island towns have their own rental and short-term rental rules. [Andrew Shanti](https://newyorkfixandfliploans.com/about-us/#andrew-shanti) Senior Vice President, New York Fix and Flip Loans · Optimus Capital Corp Andrew has worked in lending and real estate since 2005 as a principal, executive and investor, across residential and commercial property. He has facilitated more than $25 billion in off-market commercial real estate offers for clients. [More about Andrew](https://newyorkfixandfliploans.com/about-us/#andrew-shanti) · (954) 598-4564 · [LinkedIn](https://www.linkedin.com/in/andrew-shanti-6a07631a/) ## Have a New York deal in mind? Run it by us. Send the address, the price and what you plan to do with the property. We will reply with the leverage and pricing that fit your deal. - Call (954) 598-4564 - Email andrew@optimuscapitalcorp.com - [Get pre-qualified online](https://newyorkfixandfliploans.com/get-pre-qualified/) --- Source: https://newyorkfixandfliploans.com/new-york-closing-taxes-investors/ Title: NYC Mortgage Recording, Transfer & Mansion Tax for Investors Summary: How New York City’s mortgage recording tax, the city and state transfer taxes and the mansion tax work on an investment purchase, a refinance and a flip. [Home](https://newyorkfixandfliploans.com/) / [Blog](https://newyorkfixandfliploans.com/blog/) / New York Closing Costs for Investors: Mortgage Recording, Transfer and Mansion Taxes # New York Closing Costs for Investors: Mortgage Recording, Transfer and Mansion Taxes By [Andrew Shanti](https://newyorkfixandfliploans.com/about-us/#andrew-shanti) · Updated November 6, 2026 Closing taxes in New York City are among the highest in the country, and on a flip you pay at both ends. Knowing them before you make an offer is the difference between a deal that works and one that only looks like it does. ## Mortgage recording tax: paid when the loan is recorded Property and loan size | Borrower’s share, approximately One- to three-family home or condo, loan under $500,000 | 1.8% One- to three-family home or condo, loan $500,000 or more | 1.925% Commercial property or four or more units, loan $500,000 or more | 2.8% New York City rates. Outside the city the rate is lower and varies by county. Co-op loans are not subject to the mortgage recording tax. The tax is charged on the amount of the loan, not the price. On a refinance, an existing mortgage can sometimes be assigned to the new lender and consolidated so that tax is paid only on new money, which is worth asking your attorney about. ## Transfer taxes: paid when you sell Tax | Rate | Customarily paid by New York City transfer tax, one- to three-family homes and condos | 1% up to $500,000; 1.425% above | Seller New York City transfer tax, other property | 1.425% up to $500,000; 2.625% above | Seller New York State transfer tax | 0.4%; 0.65% on homes of $3 million or more and other property of $2 million or more | Seller ## Mansion tax: paid by the buyer Buyers of one- to three-family homes, condos and co-ops at $1 million or more pay the mansion tax. In New York City it starts at 1% and rises in steps to 3.9% at $25 million or more. ## A flip from start to finish Buy a two-family for | $900,000 Loan | $1,060,000 Mortgage recording tax at 1.925% | about $20,400 Sell for | $1,600,000 City transfer tax at 1.425% | about $22,800 State transfer tax at 0.4% | about $6,400 Closing taxes on the deal | about $49,600 For illustration only. Attorney, title and lender fees are extra, and the buyer of the finished house pays the mansion tax. That is why a New York flip needs a wider margin than the same project in many other markets. Our loans can finance the purchase and the whole renovation, but the closing taxes come out of your cash. ## Common questions ### Who pays the mortgage recording tax? The borrower, with the lender usually covering a small part on residential loans. ### Does the mortgage recording tax apply to a hard money loan? Yes. Any mortgage recorded on New York real property is subject to it. ### Is there a mortgage recording tax on co-ops? No, because a co-op loan is secured by shares, not real property. We do not lend on co-ops. [Andrew Shanti](https://newyorkfixandfliploans.com/about-us/#andrew-shanti) Senior Vice President, New York Fix and Flip Loans · Optimus Capital Corp Andrew has worked in lending and real estate since 2005 as a principal, executive and investor, across residential and commercial property. He has facilitated more than $25 billion in off-market commercial real estate offers for clients. [More about Andrew](https://newyorkfixandfliploans.com/about-us/#andrew-shanti) · (954) 598-4564 · [LinkedIn](https://www.linkedin.com/in/andrew-shanti-6a07631a/) ## Have a New York deal in mind? Run it by us. Send the address, the price and what you plan to do with the property. We will reply with the leverage and pricing that fit your deal. - Call (954) 598-4564 - Email andrew@optimuscapitalcorp.com - [Get pre-qualified online](https://newyorkfixandfliploans.com/get-pre-qualified/) --- Source: https://newyorkfixandfliploans.com/rent-stabilization-good-cause-eviction-investors/ Title: NYC Rent Stabilization & Good Cause Eviction for Investors Summary: Which New York buildings are rent stabilized, what the 2019 rent law changed, how Good Cause Eviction works and who is exempt, and how each affects a [Home](https://newyorkfixandfliploans.com/) / [Blog](https://newyorkfixandfliploans.com/blog/) / Rent Stabilization and Good Cause Eviction: A Guide for New York Investors # Rent Stabilization and Good Cause Eviction: A Guide for New York Investors By [Andrew Shanti](https://newyorkfixandfliploans.com/about-us/#andrew-shanti) · Updated November 6, 2026 Two sets of rules shape the rent on a New York City rental: rent stabilization, which covers much of the older apartment stock, and Good Cause Eviction, which since 2024 has covered many market-rate apartments as well. Both affect what a building is worth and what a lender will count. ## Rent stabilization - Which buildings. Most rent-stabilized apartments are in buildings of six or more units built before 1974, along with newer buildings that took tax benefits. - The 2019 law. The Housing Stability and Tenant Protection Act ended vacancy decontrol and high-rent deregulation and sharply limited rent increases for improvements. A stabilized apartment generally stays stabilized. - Rent increases. The Rent Guidelines Board sets the allowable increase each year for one- and two-year leases. - Registration. Owners register stabilized units each year with New York State Homes and Community Renewal. Ask for the registration history before you buy. ## Good Cause Eviction Good Cause Eviction took effect in New York City in April 2024. In covered units it limits rent increases to a local standard, the inflation rate plus 5% with a 10% cap, unless the owner can justify more, and it requires a good cause, such as non-payment, to evict or decline to renew. ### Who is exempt - Owners of 10 or fewer units in New York State, counting each owner behind an LLC - Owner-occupied buildings of 10 or fewer units - Buildings first occupied on or after January 1, 2009, for 30 years - Units renting above 245% of fair market rent - Units already covered by rent stabilization ## What this means for a purchase and a loan - Underwrite in-place rents. In a stabilized or Good Cause unit you cannot count on raising the rent to market. We size rental loans on the rent the property can actually earn. - Check exemptions carefully. A small owner can lose the Good Cause exemption by buying more units. Know your count. - Vacant delivery matters. A one- to four-family home delivered vacant is far simpler to renovate or rent than one with long-term tenants. - Get legal advice. Rent law in New York changes often. Have your attorney review the rent roll and leases before you sign. ## Common questions ### Does rent stabilization apply to a two-family house? Generally not, since stabilization mainly covers buildings of six or more units built before 1974. Good Cause Eviction may apply unless the owner is exempt. ### Will you lend on a rent-stabilized building? We review them case by case on the in-place rent roll, through our rental and commercial programs. ### Does Good Cause Eviction apply on Long Island? The state law applies automatically in New York City. Other cities, towns and villages had to opt in, and only some have. Check the municipality. [Andrew Shanti](https://newyorkfixandfliploans.com/about-us/#andrew-shanti) Senior Vice President, New York Fix and Flip Loans · Optimus Capital Corp Andrew has worked in lending and real estate since 2005 as a principal, executive and investor, across residential and commercial property. He has facilitated more than $25 billion in off-market commercial real estate offers for clients. [More about Andrew](https://newyorkfixandfliploans.com/about-us/#andrew-shanti) · (954) 598-4564 · [LinkedIn](https://www.linkedin.com/in/andrew-shanti-6a07631a/) ## Have a New York deal in mind? Run it by us. Send the address, the price and what you plan to do with the property. We will reply with the leverage and pricing that fit your deal. - Call (954) 598-4564 - Email andrew@optimuscapitalcorp.com - [Get pre-qualified online](https://newyorkfixandfliploans.com/get-pre-qualified/) --- Source: https://newyorkfixandfliploans.com/dscr-loans-new-york-rental-property/ Title: DSCR Loans for New York Rental Property: How They Work Summary: How a DSCR loan qualifies a New York rental on its rent, what counts in the payment, and how New York’s taxes and rent rules affect the ratio. [Home](https://newyorkfixandfliploans.com/) / [Blog](https://newyorkfixandfliploans.com/blog/) / DSCR Loans for New York Rental Property: How They Work # DSCR Loans for New York Rental Property: How They Work By [Andrew Shanti](https://newyorkfixandfliploans.com/about-us/#andrew-shanti) · Updated November 6, 2026 A DSCR loan qualifies a rental on whether its rent covers the payment, not on your personal income. For New York investors with several properties, self-employed income or an LLC, that is often the simplest way to finance a rental. ## The ratio DSCR = monthly rent ÷ monthly payment, where the payment includes principal, interest, property taxes, insurance and condo common charges. We prefer 1.0 or higher. Rent | Payment | DSCR $6,500 | $5,000 | 1.30 $5,000 | $5,000 | 1.00 $4,500 | $5,000 | 0.90 Illustrative figures. ## What counts in New York - Every legal unit. In a two- to four-family, each legal unit’s rent counts. The certificate of occupancy should match the units you rent. - Long-term rent. Local Law 18 bars whole-home rentals under 30 days in the city, so we use leases or market rent. - In-place rent on regulated units. Stabilized and Good Cause units are underwritten on rent you can actually collect. See our guide to [rent stabilization and Good Cause Eviction](https://newyorkfixandfliploans.com/rent-stabilization-good-cause-eviction-investors/). - The real tax bill. New York City Class 1 assessments are capped, so a recent purchase can carry a tax bill well below what its price suggests. Use the actual bill. ## Closing costs to plan for The mortgage recording tax applies to a rental loan just as it does to a flip: about 1.8% to 1.925% of the loan on one- to three-family homes and condos in the city. See our guide to [New York closing taxes](https://newyorkfixandfliploans.com/new-york-closing-taxes-investors/). ## Ways to make the numbers work - A larger down payment lowers the payment. - An interest-only period lowers the payment in the early years, and you can qualify on the interest-only payment. - A 5-year prepayment penalty usually prices lower than a 3-year one. - Legalizing an extra unit, where zoning and the building code allow, can add rent. Terms are on the [DSCR rental loans](https://newyorkfixandfliploans.com/dscr-rental-loans/) page. [Andrew Shanti](https://newyorkfixandfliploans.com/about-us/#andrew-shanti) Senior Vice President, New York Fix and Flip Loans · Optimus Capital Corp Andrew has worked in lending and real estate since 2005 as a principal, executive and investor, across residential and commercial property. He has facilitated more than $25 billion in off-market commercial real estate offers for clients. [More about Andrew](https://newyorkfixandfliploans.com/about-us/#andrew-shanti) · (954) 598-4564 · [LinkedIn](https://www.linkedin.com/in/andrew-shanti-6a07631a/) ## Have a New York deal in mind? Run it by us. Send the address, the price and what you plan to do with the property. We will reply with the leverage and pricing that fit your deal. - Call (954) 598-4564 - Email andrew@optimuscapitalcorp.com - [Get pre-qualified online](https://newyorkfixandfliploans.com/get-pre-qualified/) --- Source: https://newyorkfixandfliploans.com/hard-money-loans-document-list/ Title: Hard Money Loan Document Checklist | New York Investors Summary: What to gather for a rental (DSCR) loan, a new construction loan and a fix and flip loan, divided into one-time documents and documents for each deal. [Home](https://newyorkfixandfliploans.com/) / [Blog](https://newyorkfixandfliploans.com/blog/) / Hard Money Loan Document Checklist # Hard Money Loan Document Checklist By [Andrew Shanti](https://newyorkfixandfliploans.com/about-us/#andrew-shanti) · Updated November 6, 2026 Loans close faster when the paperwork is ready before it is asked for. Below is what we need for each type of loan. A business-purpose loan can close in your own name or in the name of an entity. Many investors use an LLC for liability protection, and if you do, the entity documents apply. ## Rental (DSCR) loans ### Once - Driver’s license - LLC articles of organization, EIN letter and signed operating agreement - Certificate of good standing, if the LLC is more than a year old - Voided check for automatic payments - Two months of bank statements. We look for roughly six months of liquidity ### Each deal - Loan application - Signed purchase contract, or the original closing statement for a refinance - The leases and a rent roll, for a rented property - For a building with rent-stabilized units: the rent registration history - Insurance agent, attorney and title company contacts, plus a flood insurance quote if the property is in a flood zone - Someone who can let the appraiser into the property - The appraisal report ## New construction loans ### Once - Driver’s license - LLC articles of organization, EIN letter and signed operating agreement - Certificate of good standing, if the LLC is more than a year old - A schedule of your projects from the last 2 years with closing statements - Voided check for automatic payments - Personal financial statement - Two months of bank statements showing reserves for interest, closing costs and part of the budget ### Each deal - Loan application - A line-item construction budget with a specific scope of work - Plans, drawings and permit status, including zoning and any landmarks review - The general contractor’s license and workers’ compensation certificate - A list of the contractor’s recent new builds - Insurance agent, attorney and title company contacts, plus a flood insurance quote if the property is in a flood zone - Someone who can give the appraiser access to the site ## Fix and flip loans ### Once - Driver’s license - LLC articles of organization - IRS EIN letter - Operating agreement signed by every member, with ownership percentages - Certificate of good standing, if the LLC is more than a year old - Voided check for automatic payments - Experienced investors: a schedule of your projects from the last 3 years and the closing statements for each purchase and sale. For a property you kept, the statement showing the refinance into permanent financing ### Each deal - Loan application - A line-item rehab budget with a specific scope of work. Write “replace boiler and repoint brownstone facade”, not “mechanical and masonry”. Draws are released against this budget - Signed purchase contract, or the original closing statement for a refinance - Insurance agent’s name, phone and email - Your attorney’s and the title company’s names, phones and emails Not sure about an item? Call (954) 598-4564. [Andrew Shanti](https://newyorkfixandfliploans.com/about-us/#andrew-shanti) Senior Vice President, New York Fix and Flip Loans · Optimus Capital Corp Andrew has worked in lending and real estate since 2005 as a principal, executive and investor, across residential and commercial property. He has facilitated more than $25 billion in off-market commercial real estate offers for clients. [More about Andrew](https://newyorkfixandfliploans.com/about-us/#andrew-shanti) · (954) 598-4564 · [LinkedIn](https://www.linkedin.com/in/andrew-shanti-6a07631a/) ## Have a New York deal in mind? Run it by us. Send the address, the price and what you plan to do with the property. We will reply with the leverage and pricing that fit your deal. - Call (954) 598-4564 - Email andrew@optimuscapitalcorp.com - [Get pre-qualified online](https://newyorkfixandfliploans.com/get-pre-qualified/)