If you've been looking for an apartment in Little Havana or a condo in the downtown Miami and Brickell area, time can play an essential role in whether you land the real estate deal. As a hard money lending expert serving the Miami area along the Florida coast, Gauntlet Funding provides its clients with quick closings at competitive rates. We are a multimillion-dollar-backed investment property firm for bridge, rental, or joint venture loans to sell, purchase, finance, or partner on a property.
Hard money loans provide cash quickly due to a faster approval process based on the property financed. Flexible repayment terms allow you to turn a profit, and using the property as collateral will enable you to take out a percentage to perform renovations, repairs, or new construction. The types of hard money loans available at Gauntlet Funding, hard money lenders in Miami, include:
According to Movoto, in July 2022, the average selling price for a home in Miami was $599,000, with the average home remaining on the market for 54 days. In 2021, the average length on the market was 225 days, with an average listing price of $680,000. Popular neighborhoods include the following:
With central proximity to the Midtown Design District, Wynwood Art District, and downtown, Edgewater is an appealing neighborhood for young professionals. Investors have revitalized new parks, high-rise condos, and retail plazas over the past few years, making Edgewater a trendy location.
As one of Miami's oldest neighborhoods, Coconut Grove offers single-family homes, townhomes, and condos, all highly sought-after properties. Most homes were built between 1950 and 1989, offering bungalow-style homes with practical layouts.
Brickell is south of downtown Miami offering single-family homes and high-rise condos. Newer construction gives Brickell a more extensive housing inventory, especially if you're looking for a condo.
The fast processing and straightforward qualification process of hard money loans make them an appealing option to commercial and residential property investors in North Beach and Brickell.
If you're looking to purchase an older home in Coconut Grove to renovate and update it to sell for a profit, you may want to consider a fix-and-flip loan from Gauntlet Funding. Several revitalization projects, from parks to restaurants and a refurbished marina, are slated in Coconut Grove, making it appealing to real estate investors.
If you want to relocate to Miami for a new job or retirement, you may need to use a bridge loan to finance a new property while waiting to sell your current home. For a home in a quiet, breezy spot with sandy beaches, Key Biscayne is a preferred location for residents and investors.
Up-and-coming neighborhoods in Miami, like Little Havana, might be the perfect place for new construction. Our hard money lenders can help you get the new construction loan you need to make your dream a reality. The experts at Gauntlet Funding can also help you decide which new construction loan is best for you.
The industry experts at Gauntlet Funding have worked with clients for over 20 years, serving Florida as hard money lenders. We work with you on all residential and commercial properties, regardless of situation or condition, to finance short sales, REOs, and new construction projects.
Miami's status as a global city, its vibrant cultural scene, and its year-round favorable climate had been attracting a diverse range of investors, both domestic and international. The city's luxury real estate market had been particularly robust, with high-end condominiums and waterfront properties drawing affluent buyers. Additionally, Miami's growing reputation as a technology and innovation hub was contributing to increased demand for commercial real estate, especially in areas like Brickell and Wynwood.
The ongoing development of the Miami Worldcenter, a mixed-use megaproject featuring residential, retail, and entertainment spaces, is reshaping the downtown landscape. The expansion of the Brightline high-speed rail service connecting Miami to Orlando is poised to improve transportation options and stimulate economic growth. Additionally, the Miami Beach Convention Center's renovation and the ambitious Miami Underline project, which transforms unused space beneath the Metrorail into a linear park, are set to invigorate the urban environment. As Miami's skyline evolves with architectural marvels like One Thousand Museum and the innovative Miami Design District, the city's real estate market remains dynamic.
In most cases, you can receive approval for a hard money loan within 14 days, compared to a traditional loan which typically takes 30 to 45 days.
Use a hard money loan to purchase a single-family residential property, commercial and industrial property, land, and multi-family residential properties.
The interest rate on a hard money loan will vary, with most hard money loans ranging from 10% to 15%.