New York City Investors

[Reh N.]

Hi, I'm looking at taking a hard money loan for a investment property in New York. The current purchase price is $500,000 ARV: $850,000 construction: $80-100,000. What would be good in terms of hard money lending? I haven't inquired yet but I'd like to know what rates I'm looking at before executing. What rates / terms would I be looking at for a property in NYC? Just a ball park would suffice.

[Odie Ayaga]

Anywhere from 8-15%, 2-5 points