Hey Dawn, Private and asset-based lending have really become key for investors who don’t want to miss out on deals because of slow bank processes.

Most investors overlook Midterm Rentals (MTRs) — but they can be a game-changer.

In NYC one must do a full gut renovation on a stabilized property (once it's vacated) as part of the process to achieve destabilization, and create free market rental units.

A good civil engineer and architect can often point out issues, but sometimes they are a bit silo'd in their view, and overlook things like environmental. 

House sits on corner lot overlooking park, has large back yard and garage.

That question led me to specialize in what I call Asset Conversion — the process of transforming underutilized properties into higher-yield models like:Senior shared housingVeteran co-living homesMid-term rentals for professionalsAnd even hybrid models that blend all threeWhy This WorksThe demand for affordable, community-based living is skyrocketing — especially among seniors and veterans.

Overlooking acquisition, construction, and local guidelines could result in losing your deposit on wholesale deals.As an alternative, I'd recommend looking into house hacking in New York.All the best!

Having hands-on skills in repair and remodeling is a huge advantage when starting out, especially for flips or managing rentals.One tip I’d share is to focus on building a small local network of agents, lenders, and other investors who can guide your first deal — it can make the process much smoother and help you spot opportunities faster.Curious — are you leaning toward single-family rentals, flips, or a mix as your first investment?

The right questions revolve around people and process: What's the staff-to-unit ratio? 

My wife & I have recently started the process of drafting our Wills and setting up a Revocable Trust.