Expand Your Reach Outside the New York Market: Tips for Hard Money Lenders

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Tips for Hard Money Lenders

More than ever there are abundant expansion opportunities for hard money lenders outside New York City and the Boroughs.

Due to the significantly decreased demand, the shutdown of the NYC economy, severe legislative restrictions on property owners, and general mass exodus out of the City, real estate investors are targeting locations all over the country as an alternative.

Here are a few general pieces of advice for hard money lenders looking to expand their business operations outside of New York City.

  • Educate your team on desirable locations and trends in investment and development outside the NYC area.
  • Initially concentrate on a single location and seek to tailor your lending services to accommodate the local lending needs in that given area.
  • Research the general competition and availability of private money in those areas and target those areas with fewer hard money players.
  • The tri-state area is extremely competitive with an abundance of lenders, this is not the case in many areas throughout the country.
  • Utilize your established network to gain contacts in the targeted areas.

In addition, pivot your business approach and develop direct contacts with local brokers, investors, attorneys, and real estate professionals through LinkedIn.

Through these communications, you will quickly learn the lending demand in these markets.

Bringing knowledge plus established speed and efficiency to markets not accustomed to such could be eye-opening and create immediate opportunities.

If you are looking to expand your lending business into new areas, reach out to Andelsman Law today.

We specialize in helping leaders grow their businesses nationwide utilizing our expansive nationwide network of real estate professionals, investors, lenders, and capital providers.


Ian Axelrod, Esq, Senior Counsel

Ian is an accomplished attorney with over 10 years’ experience representing private lenders, financial institutions, investors, developers, and domestic and international high net worth individuals and investment groups in all facets of lending, borrowing, acquisitions and other real estate matters.  Ian has represented prominent lenders, developers, property operators, business owners, and investors for both residential and commercial property development projects. Ian provides counsel on the acquisition, renovation, and lease of multi-family, mixed use, condominium and various other real estate projects.  Prior to joining the firm, Ian was the Managing Attorney at The Shiponi Law Firm, P.C. and, Associate at The Law Offices of Frederick J. Giachetti, P.C.

Ian graduated from SUNY at Buffalo in 2007 with a Bachelor of Arts degree in Political Science, Public Law Concentration.  He earned his Juris Doctor degree from Touro College, Jacob D. Fuchsberg Law Center in 2010, and was admitted to the New York Bar Association in 2011.