All Forum Posts by: Anna Cerda

Hey Anna — yeah, this comes up a lot, especially for folks trying to rack up points or ease short-term cash flow.

Plastiq is probably the most common route, but like you said, that 3% fee adds up fast, so it really only makes sense if your credit card rewards outweigh the fee (which is rare) or if you're in a pinch and need the float. Just make sure your lender accepts checks from third-party services — some don’t.

The prepaid card → money order method can work, but it’s sketchy, time-consuming, and some card issuers or banks might flag it as a cash advance, which comes with even worse fees and interest.

Honestly, unless you're just doing it short-term for a specific reason (like hitting a credit card sign-up bonus), it's not the most efficient move. Better to explore a HELOC, short-term personal loan, or just tightening expenses to build a reserve.

If you're doing this as a one-off, Plastiq’s fine. Just avoid building a habit around it.

Yeah, you can get a loan that covers both the land and the construction—it’s called a construction-to-perm loan. It lets you buy the land and build, all under one loan so you don’t blow your cash just on the lot. Some banks might want you to already have plans, permits, and a contractor lined up, so it's not as simple as buying a house.

If you’re just buying land by itself, that’s a land loan, and it usually comes with higher interest, bigger down payment, and more hoops to jump through. Also, not every piece of land is ready to build—make sure it’s zoned for multi-family, has utility access, and isn’t a pain to develop.

Basically: yes, there’s a loan for what you want, but you’ll need your stuff together before a bank says yes.

@Anna Cerda   Check DOB for old permits/CO sometimes it is helpful. What’s your timeline & budget for the duplex conversion?

@Anna Cerda good morning.  I own a few Bronx townhouses myself, and have used Jill for my architecture needs.  She lives in Mott Haven and has been very helpful. I'll DM you her details

Hey — for the driveway, your best bet is to start with a zoning map and check the DOB zoning documents online. Sometimes you can get a zoning consultant to do a quick feasibility check for like $300-$500 instead of hiring an architect right away.

6 units can go CMBS commercial or Non QM depends on valuation and market rents.

It is going to be a LONG road to turning over those units in New York. Expect that the rents seller claims maybe not what they pay.

Read: https://ag.ny.gov/sites/default/files/tenants_rights.pdf  NYC tenant rights