Real estate investors in New York and New Jersey who sit on the sidelines waiting for interest rates to drop are consistently losing deals, according to Ruben Izgelov, CEO and founder of We Lend LLC. The private lender, which has funded over 1,400 loans and more than $700 million in originations, has observed that borrowers who hesitate or chase small rate differences often miss out on valuable opportunities and damage long-term relationships with lenders.
Izgelov identifies the most common mistake as borrowers stalling on a deal because they are waiting for the Federal Reserve to cut rates or for market conditions to improve. While this reasoning may seem sensible, the data shows that investors who execute deals promptly outperform those who wait. “The answer is no, do not wait, just execute and move on,” Izgelov said. “Most of the time, those who are on the sidelines are the ones who are not doing as well as the ones who are just executing.”
The opportunity cost of sitting out includes missing out on deals that close without the investor, losing the chance to build relationships, and failing to develop market knowledge that comes from active deal-making. Izgelov emphasizes that a real estate investment performed at current rates still generates returns, making the wait counterproductive.
Another costly habit is switching lenders over a quarter of a basis point. Private lending is relationship-based, and lenders who know a borrower and trust their judgment are more likely to offer flexibility on complicated deals. Borrowers who constantly chase small rate differences never build that depth with any lender. “We are very relationship-based,” Izgelov said. “If I know you are committed to me, I am going to be committed to you.” This commitment can translate into priority and flexibility that genuinely changes a borrower’s operational capability over time.
However, relying exclusively on one lender is equally risky. Izgelov, who has completed over 100 fix-and-flip transactions himself, advises borrowers to have multiple working relationships. “I always tell every single borrower: have multiple working hard money relationships, do not just work with one,” he said. The ideal strategy is to maintain a primary lender for most deals and at least one secondary relationship that stays active through occasional transactions. This ensures backup support when the primary lender cannot handle a deal.
Beyond strategy, Izgelov stresses the importance of preparation. Borrowers who arrive with complete documentation can close deals quickly—We Lend once closed a $3 million mixed-use loan in under 48 hours because the borrower had all documents ready. The standard closing window is seven to ten days, but it lengthens when documents arrive piecemeal. Borrowers who treat document preparation as reactive rather than proactive consistently lose time on competitive deals.
For more on how We Lend structures its loan process, visit welendllc.com/how-it-works.
Ruben Izgelov is the CEO and Founder of We Lend LLC, a private real estate lender specializing in bridge loans, ground-up construction, and complex situation financing across the New York and New Jersey markets.
