Hard Money Loans Ithaca

We empower entrepreneurs, real estate investors, and businesses of all sizes challenge the status quo. We take risks on the go-getters, and do’ers – who have an opportunity and need a partner.At Delancey Street, we invest in people and their ideas – not abstract concepts like credit scores, or other financial metrics. Tell us about your idea, let’s discuss your opportunity

1

High LTV

We fund hard money loans up to 80-90% LTV with no issues.

2

Fast

We promise to treat you like a partner

3

No $ Limit

No limits on what we can do for you.

Business Funding

Our client was a trucking company based out of NY, that needed quick funding. In 24 hours, we arranged $100,000 in funding.

Raised
APR
ARV
700,000
9,0%
60%
100% Funded!

Residential Refinance

We funded a purchase in California, for $1.2 million with 65% LTV. We helped the developer with with a 11% loan with balloon payment.

Raised
APR
ARV
1,200,000
11%
82%
100% Funded!

Lawsuit Funding

Client was injured in a car accident and needed a cash advance on the future value of his lawsuit. In 48 hours, our funders wired funds over.

Raised
APR
ARV
830,000
8,99%
75%
100% Funded!

PARTNERS FIRST.
LENDERS SECOND.

Hear from people we've helped

Delancey Street makes lending easy. They took a chance on me when no one else would.

Jason

Founding Partner (Cut and Stitch)
Delancey Street funded our e-commerce shop and really gave us the chance to grow our business significantly.
Delancey Street makes lending easy. They took a chance on me when no one else would and helped my...

Steven Goldman

Founding Partner (Goldman & Associates
Chicago Lawyer)

Industries We Service

Cannabis
Residential Real Estate
Commercial Real Estate
Startups

Our team is always available, and ready to help

Our team of industry experts is ready to help with all of your business needs. Whether you’re looking for a reliable hard money lender, looking to go public via a reverse merger, or need private capital for a venture – we can help.

Industry Experts

Our team consists of extremely qualified industry experts

Quick Service

We work diligently, and quickly, to help you

Our team is always available, and ready to help

Our team of industry experts is ready to help with all of your business needs. Whether you’re looking for a reliable hard money lender, looking to go public via a reverse merger, or need private capital for a venture – we can help.

Industry Experts

Our team consists of extremely qualified industry experts

Quick Service

We work diligently, and quickly, to help you

We’re here to answer your
questions. Contact us anytime:

Minimum Qualifications Requirements

Delancey Street’s team consists of builders, developers, hard money lenders, and entrepreneurs. We understand your project has unique needs, and not every project is going to be easy and be ideal. These are general guidelines which should be interpreted as a suggestion, rather than mandatory.

At the end of the day, we look at you – just as much as the quality of the deal and the qualifications.

  • Risk Free. No Application Fees.
  • Decisions Within 48 Hours.

Hard Money Loan Guidelines

Speed We close within 24-48 hours
Paperwork Not much
Qualification Project and LTV matter. We don’t care about your credit.
Maximum LTV 80-90%
Loan Terms 12-48 Months

It’s Simple

  • 1 Tell us your financial request
  • 2 We consult & provide terms
  • 3 We finalize the transaction

Get pre-qualified

  • Looking to purchase a property
  • No obligation and no effect on y
Get pre-qualified today

Hard Money Loans Ithaca

Delancey Street is a premier, and trusted nationwide hard money lender. If you need funding for your next project, we can help. We have experience funding real estate investment properties nationwide and understand the importance of working with a trusted lender.
Why Borrowing From A Conventional Lender Might Not Work
You walk into a bank and talk to a loan officer about taking out a loan for a piece of real estate. That individual takes your application and sends it through the bureaucracy of the bank while you wait an agonizing thirty to sixty days to hear back on the question of approval. That time passes as other great real estate deals pass you by as well.
This is the scenario that a person could easily find themselves in if they choose to go with a traditional lender. The banks and other real estate lending establishments consider your application just another number on their ledger. They are extremely strict on their guidelines for lending, and your particular interest in a property does not matter to them in the slightest. It is an infuriating experience that can cause people to just throw their hands up in the air and swear off real estate investing altogether. Luckily, there is another way.
Hard Money Lenders Can Help
Instead of dealing with the bank, why not consider using a private money lender to help you out instead. This individual will have to be someone wealthy enough to have the financial means to fund your loan application, but those people do exist. They also tend to be more flexible with their standards for lending.
Some properties that have proven successful in the past include:

  • Foreclosures
  • Commercial properties
  • Residential properties
  • Fixer-Uppers
  • Homes In An Underdeveloped Part Of Town

Avoiding Regulations
Regulations are what kill so many real estate deals before they even get started. The banks are constantly under scrutiny of the government to only lend in what the government considers to be a responsible manner.
Hard money lending cuts the middleman regulations that the government so often puts into place out of the mix. It is not the government’s business how you conduct the deals that you structure with another private party. If you believe that to be the case as well, then private money lending is probably for you.
There will still be some paperwork and contracts to sign, but skipping past so many of the other burdensome regulations will surely be a relief to anyone and everyone who wants to close on their real estate deal as soon as possible.
How is a hard money lender different from a regular lender
The biggest difference between banks and  hard money lenders is the fact hard money lenders are asset centric lenders. They look at on the asset associated with the hard money loan. But, traditional lenders focus on credit and how much cash on hand the real estate investor has. It is very important to remember hard money loans are not good for the long term. The objective of a hard money loan is to be a short term loan that gets you the home you’re attempting to acquisition. Hard money lenders focus on 6-24 month term loans that reap a significant ROI. If you fail to repay the hard money loan, a hard money lender can take possession of your property to be able to settle his/her loan.
Why is hard money a potentially terrible idea
There are many reasons reasons why a hard money loan is a terrible idea. For example, hard money lenders ask for higher interest rates. This is because of the fact lenders think they’re taking huge risks by lending on an investment property – and want to be compensated according to the level of risk. High interest rates make hard money loans economically toxic for some kinds of deals. In addition, hard money lenders have shorter loan terms than traditional lenders – which also makes them unattractive. Traditional lender offer 30 year periods but private money lenders offer only 1-3 year terms.
Hard money lenders can finance your deals fast
Hard money lenders assist a very specific group of individuals, i.e. property investors. Hard money lending is a form of bridge term lending, which is secured by real estate. Specifically, the people who use hard money loans are typically property investors – typically, those who are being denied a traditional loan as a result of stringent guidelines.
Hard money lenders exist because they are fast, and provide loans with little to no headaches. Hard money lenders have a streamlined application system. They expect collateral and do not look at your credit score. They focus on your experience, rather than your credit score. If you have a checkered financial history, it will be easier to obtain financing with a hard money loan rather than a conventional loan which is granted based on your credit report. Below are scenarios where hard money lenders fill a void that conventional lenders do not touch:
Ithaca Hard money loans can be used for fix and flip real estate investors
Most traditional lenders won’t give you a loan for a fix and flip project. If the home is in bad condition, or there’s some other abnormality with the house, then a traditional lender won’t give you funding. In addition, most fix and flip prospective deals”go fast.” The seller is very motivated to sell the property, and will accept the first deal. Conventional lenders take forever, so by the time the loan is approved – you have already lost the property since someone paid money for it. For those who have a hard money lender on your side who can close a loan in 5-10 days, you can get the fix and flip property.
Hard money loans are great for bridge funding
From time to time, your project goes over-budget and because of this you need additional funds. Some traditional lenders will deny, because the project isn’t finished. Though this can be catastrophic, a hard money lender might be willing to lend you the funds. Hard money lenders are happy to give money to bridge the gap in financing, and can work with you to fill that void.
Private Money Loans can be used for Residential Real Estate Investment Properties
Hard money can be used for many many types of properties, which range from commercial properties to residential properties. Typically property investors who contact us are looking for a private money for single family residence. Many are doing a fix and flip, or they are buying the property to hold it long term and lease it out. Real estate investors that are looking to fix and flip typically find a property in terrible shape, purchase it below market value, rehabilitation the property, and then resell it so as to make a profit. Most fix and flip projects are done in 6-12 months. Investors who purchase rental properties with a long term strategy, typically buy it and maintain it. Regardless of your purpose – we can provide you funding. We fund all types of residential real estate investment properties. Many investors come to us because they would like to create multiple streams of passive wealth. Some real estate investors use a hard money loan to purchase the property and then use a traditional loan to repay the hard money loan. Regardless of what your objective is, we can give you funding for your next loan.

Hard Money Loans

Need funding for your next project?

Complete Our Application