Long Island Hard Money Loan FAQs

  • A hard money loan is a short-term, real estate–backed loan built for speed and flexibility. Unlike banks that focus on credit scores, tax returns, and endless paperwork, hard money lenders base approval on the property and the deal itself.

    At Equiquest, that means fast decisions, quick closings, and funding when you need it—so you can act on opportunities without getting stuck in bank red tape.


  • Speed is our edge. Equiquest can close in just a few days—often faster than anyone else in the market. The only real slowdown is title work, but once that’s clear, we move quickly to get you funded.

    That speed gives you the advantage to lock in deals and compete like a pro.

  • Equiquest lends on 1–4 unit residential homes across Nassau and Suffolk County. Condition doesn’t matter—whether it’s turnkey or needs a full rehab, we’ll fund it.

  • We focus on keeping risk low and deals strong. Most of our loans are capped at 65% loan-to-value (LTV) or less, with no ARV limits. Loan sizes typically range from $100,000 to $1,000,000.

    Our rates are among the most competitive in the market, tailored to your experience and the specifics of the deal.


  • ARV is determined by a licensed appraisal. The appraiser looks at the property’s current value and adds the projected value of the planned rehab or construction, based on your specific scope of work.  This is a simple, quick process.

    • Collateral – The property must make sense at our target LTV (loan-to-value).

    • Capacity – You need the ability to handle the project and carry costs.

    • Character – We value working with investors who are professional, reliable, and serious about closing.

    If those three line up, the deal is fundable.

First-Time Flipper FAQs

  • Yes. At Equiquest, we welcome newer investors and even have a loan product built just for you. We call it “co-piloting your deal”—guiding you through the process while providing the funding you need.

    This approach has helped many first-time investors complete their first flips with confidence and launch successful real estate careers.


  • At Equiquest, we love working with new investors. Our process is designed not just to fund your deal, but to set you up for long-term success in Long Island real estate investing.


    Here’s how it works:

    1. Pre-Approval – We review your business docs, ID, and credit to get you pre-approved, giving you confidence to shop with financing ready.

    2. Team Review – We’ll ask the right questions to ensure you have your core team in place: contractor, attorney, agent, and lender.

    3. Deal Submission – Once you find a property, you provide the contract, rehab scope, and comps. We underwrite quickly and let you know if the deal is fundable.

    4. Funding & Co-Pilot Support – With our New Investor Loan, you’re not alone—we “co-pilot” your first deals, offering guidance so you avoid common pitfalls.

    Our founder, Michael DeAngelis, is deeply committed to mentoring—whether it’s clients, college students, or recent grads. His passion for helping others and sharing his own success stories is at the heart of Equiquest.


  • Not every project requires a contractor, but if yours does, we strongly recommend having your full team in place—licensed contractor, attorney, real estate agent, and lender—before making your first offer.

    Pairing that with a pre-approval from Equiquest gives you the confidence to shop deals knowing you’ve got money in your pocket.

  • It depends on the purchase price, scope of repairs, and ARV—but on average, you’ll bring tens of thousands, not hundreds of thousands.

    One of the biggest myths for new investors is thinking they need $100,000+ just to start. That mindset leads to years of saving and analysis paralysis, when in reality, the right deal could have you investing in a matter of months.


Out-of-State Investor FAQs

    • Yes. Once your project is complete and close to renting, you can refinance into a long-term 30-year loan. Equiquest partners with lenders who make that transition smooth, so you can move from short-term funding to permanent financing with ease.

Process & Requirements FAQs

  • To get pre-approved, you’ll just need your business documents, ID, and a recent credit report. Once you have a property under contract, we’ll ask for the purchase agreement, rehab scope of work (contractor proposals), and a comps report.

    That’s it—simple, fast, and built to get you funded quickly.


  • Equiquest funds loans through your LLC or corporation, but you’ll also provide a personal guarantee. This structure protects your business while giving us confidence that you’re committed to the deal.


  • At Equiquest, our loans are based on the asset first. We look for your ability to make the monthly interest payments and a history of paying personal and business obligations on time.

    Your credit score matters less than the strength of the deal and your track record of responsibility.


  • If your project needs more time, Equiquest can grant an extension to the 1-year loan under certain pre-approved conditions.

    For budget overruns, we recommend building in at least a 10% buffer in your contractor proposals and scope of work. That cushion helps protect your profit if costs run higher than expected.


  • Simple, fill out a loan app in 60 seconds on our website and request a POF (proof of Funds Letter)

  • Yes

  • Call 516.351.9302 or submit an application in 60 seconds on the website.

  • Banks deny loans for reasons that often have little to do with the deal itself—credit score, income documentation, or property condition. Their process is rigid, slow, and focused on your financial past.

    Hard money lenders like Equiquest look at the property, the numbers, and your plan. If the deal makes sense and the asset is strong, we can fund it—even if a bank said no. That flexibility helps investors move forward instead of missing opportunities.

  • From day one, Equiquest has lived by a simple motto: if we wouldn’t lend on it, you probably don’t want to do it.

    We back that up with:

    • Disciplined underwriting – highly focused, fair, and rooted in risk control.

    • Deep market knowledge – our Long Island focus means we know the neighborhoods inside and out.

    • Trusted resources – attorneys, appraisers, contractors, and advisors who help us vet every deal.

    This combination keeps our investors protected and positions projects for success.


  • Yes, and we can help connect you with the funds to make that happen.

Long Island Real Estate Market FAQs

  • As of summer 2025, the most promising flipping opportunities on Long Island are where $1 million ARV homes can be purchased for $500–600K and fully renovated. These properties bring strong upside in today's market.

    Here are top neighborhoods showing great potential:

    • Huntington A consistent favorite with stable demand, a charming downtown, and waterfront access—great for high-end flips. Ideal for deals targeting that $1 million ARV sweet spot.Houzeo+15Harbour Group Capital+15longislandmap360.com+15

    • Patchogue Experiencing a major revival. Its waterfront, vibrant downtown, and arts scene drive investor interest in full-scale renovations.Harbour Group CapitalThe Beacon Team at EXP

    • Bay Shore With improving redevelopment activity and transit access, Bay Shore combines solid renovation potential with growing appeal.Harbour Group Capital

    • Islip A mix of suburban charm and opportunity, especially strong for investors looking to enhance curb appeal and interior finishes

  • The biggest factor is the additional cost for flood insurance. More about flood insurance from Suffolk County.

  • Based on the scope of the projects, we may want to have all permits and zoning requirements in place before closing.