Stop waiting for rates to drop. That is the message from Ruben Izgelov, CEO and founder of We Lend LLC, a private lender focused on the New York and New Jersey market that has funded over 1,400 loans and more than $700 million in originations. According to Izgelov, the most expensive habits real estate investors carry are not dramatic errors but avoidable decisions that cost time, money, and opportunity.
The most common mistake is borrowers stalling on a deal because they are waiting for the Federal Reserve to cut rates or for market conditions to improve. The reasoning sounds sensible, but the investors who consistently execute 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.” A real estate investment that performs at current rates still generates returns, and the opportunity cost of sitting out—including missed deals and market knowledge—is consistently significant.
Another costly error is jumping ship over a quarter point. Private lending is relationship-based; a lender who knows a borrower will extend flexibility that does not show up on a term sheet. Borrowers who constantly switch lenders to save small rate differences never build that relationship depth. “We are very relationship-based,” Izgelov said. “If I know you are committed to me, I am going to be committed to you.” The flexibility gained through consistent deal volume with one lender is worth more over time than shaving a quarter point on individual transactions.
The flip side is working exclusively with one lender. Izgelov, who completed over 100 fix-and-flip transactions before founding We Lend, warns that lenders get concentrated in specific asset classes or become cautious at the wrong moment. “I always tell every single borrower: have multiple working hard money relationships, do not just work with one,” he said. The right approach is one primary lender relationship that gets most of the deal flow and at least one secondary relationship kept warm through occasional transactions.
Operationally, the most immediate mistake is arriving unprepared. The speed of closing depends on how quickly a borrower can produce complete documentation. Izgelov notes that We Lend closed a $3 million mixed-use loan in under 48 hours because the borrower had everything needed. The standard closing window is seven to ten days, but it extends when documents arrive in pieces. Borrowers who treat document preparation as reactive 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 New York and New Jersey markets. This article is based on information provided by the expert source cited above. It is intended for general informational purposes only and does not constitute legal, financial, or real estate advice. Readers should conduct their own research and consult qualified professionals before making any real estate or financial decisions.
