As hard money lenders in New York will tell you, the Empire State is one of the most costly states to invest in, but with one of the highest profit medians in the country, it is well worth your time. And with many flippers residing in New York, there is a great community who has found success in the industry. There are quite a few older homes on average there in need for an update as well, making flipping homes in New York an excellent canvas to get creative and discover new, modern ways to turn houses into homes.
Uncover more about hard money loans and house flipping in New York. With a high return and plenty of older homes that need a good revamp, New York provides a wonderful place to build your portfolio in. Whether you are looking for a hard money loan in Albany, New York City, or Long Island—we have you covered!
Median Price of Homes Sold
$294,200
Number of Homes Purchased for a Flip
11,651 homes
Median Age of Flipped Homes
60 years old
% of Flips Financed with a Loan
38%
Median Loan Amount
$285,000
Median Profit Per Flip
$115,000
Total Number of Active Flippers
6,228 flippers
Total Number of New Flippers
810 new flippers
% of Flippers Who Flip Outside of State
8%
Median Number of Days it Takes to Flip a House
150 days
% of Flips Less Than the National Average Sq. Ft.
88%
Median Number of Flips Per Borrower in State
2 flips
Top
10
New York Flipping Counties
Check out the top counties in
New York
ranked by the largest communities of flippers and discover the number of flips in each.
Rank
County
# of flips 2018
Median Profit per Flip
1
Suffolk
2,341
$142k
2
Nassau
1,692
$165k
3
Erie
1,006
$41k
4
Queens
888
$235k
5
Monroe
805
$53k
6
Kings
552
$306k
7
Orange
470
$109k
8
Westchester
432
$183k
9
Bronx
384
$229k
10
Dutchess
359
$124k
LendingHome:
The Proven Source for
New York
Hard Money Loans
Kiavi is as accessible as your next-door lender, but offers the cost benefit and reliability of a national hard money lender. We are making an impact across the Empire State by supporting every level of investor, from passionate hobbyists to professional house flippers. No matter what city you are flipping in, we can help launch and scale your real estate investment business.
Experience the LendingHome Difference
With ensured flexibility, a committed staff, and less paperwork via premium technology, you can get a hard money loan for your fix-and-flip property in as few as 5 days. As the nation’s largest hard money lender, we have issued $32 million in loans in New York last year alone. Our competitive terms offer you up to 90% of the purchase price, up to 125% rehabilitation with holdback, and fund up to $1 million per deal or $3 million across multiple deals. We are the real estate investing partner that help our customers close deals, grow portfolios, and increase profits.
Why You Should Invest in
New York's
Real Estate Market
New York is known for being one of the most exciting places in the world—and investing there is no different. New York’s old, sophisticated charm and classic architecture makes it a creative, wonderful place to fix-and-flip properties. And given the Big Apple, the prestigious educational institutions, and array of upstate farmland, it is rich in culture. As one of the bigger states to flip in with homes that need renovating and have a bit more years and history behind them, you’ll find a sense of accomplishment in seeing the finished products of your flips in New York.