Hello,I purchased a one-family house in Dutchess County in New York's Hudson Valley in October of 2021.

As someone who regularly engages with hard money loans, I've noticed the important role that broker fees can play in these transactions.Discussion Topic:I'm interested in hearing about the experiences of brokers who have collected fees on hard money loans, particularly in New York State.

We may actually be able to make it work since our current home is New York and the house we would be trying financing for would be in west palm beach, thanks for the input!

I am looking to flip houses in the surrounding New York area - North/Central New Jersey and Northern New Jersey where prices are more feasible. 

One winter season I rented to a retired couple from New York, followed by a retired couple from Chicago.

- Peter York

New York is simply off the chart.

At least in New York the rent is also quite high and the units relatively small.

I'm sure New York has it's own norms, but on the west coast you see it more like:- 7-10% monthly rent- 10% surcharge on repairs- 100% late fee (yes, this is normal)- $250 lease initiation fee (full month seems like a lot)- nothing for lease renewalIt never hurts to check what the competition offers, but if you switch make sure the service level is comperable.

Plus, there might be New York state transfer requirements where you need to notify the state of the ownership change.Some things to be concerned about on such a transfer are:1) Are there any lenders involved that need to consent to the transfer?