Gauntlet Funding is a private funding group based out of New York. We serve clients throughout the state, including in Staten Island, a borough of New York City. Our financial experts specialize in direct private lending and distressed asset financing. Staten Island sits in the southwest portion of the city and includes over 58 square miles of land. Despite its large size, the borough is the least populated of the five main ones in New York City.
“Lou, Raffele and Chris are extremely professional and easy to work with. They will find the perfect solution for your situation. I highly recommend working with Gauntlet. We switched from another lender we had problems with and the team was able to assist right away! We will be doing many more deals in the future. Great guys.”
.- Mike Dee
“Have been working with Lou and his team on different projects for almost 2 years now. Highly recommend him and his team!“
.- Adam Gregory
Hard money loans are secured by real property, and people also refer to them as short-term bridge loans. As one of the top-rated hard money lenders in Staten Island, Gauntlet Funding specializes in hard loans and offers options for a range of clients. The types of hard money loans we offer include:
Some of the more popular neighborhoods in Staten Island include:
Because Staten Island is a fairly densely populated area, newer homes and empty lots may be more difficult to find. However, new construction single-family homes and multi-family units may be available in some of the less established neighborhoods or in areas that are undergoing gentrification efforts. Some construction companies in the area also specialize in residential demolition and rebuilding.
Investing in real estate in Staten Island is easier with Gauntlet Funding by your side. We offer a range of financing options to real estate investors, such as:
Hard Money Loans
A hard money loan is generally easier to qualify for and faster to get than a traditional property loan, making it an appealing option to a real estate investor who needs to act quickly. Gauntlet Funding offers several types of hard money loans to clients in the Oakwood Beach neighborhood and throughout Staten Island.
Bridge Loans
A bridge loan is a financing option for a buyer who owns a property in Staten Island and wants to purchase another before selling the property they already own. Also known as a gap loan, interim financing, or a swing loan, a bridge loan is a short-term loan that can secure financing right away with immediate cash. The name of this loan type refers to the temporary ability to bridge the gap between buying a property without having to sell the current property.
Fix and Flip Loans
Fix and flip loans are based on real estate projects that involve renovations and can be sold for higher values. A real estate investor might use a fix and flip loan to buy a home in the Great Kills neighborhood that is distressed, such as through a short sale or out of foreclosure, and use the funds for repairs. After using the borrowed funds to renovate the home and prepare it for a new owner, the investor can then sell it at a higher price than they purchased it for, earning a profit that they can use to repay the loan.
Fix and flip loans are among the most popular types of hard money loans. They are flexible and can meet the individual needs of an investor, and some can close within two weeks, lessening the time between applying for the loan and receiving the funds.
New Construction Loans
A new construction loan covers the costs associated with the construction process, including the cost to purchase a lot or land, build the structure, get a permit, and fund the materials. This type of loan can benefit a real estate investor or property owner who plans to have a new building constructed on their land. Borrowers can consider several construction loan sub-types, such as construction-to-permanent, end loans, construction-only loans, renovation, and owner-builder construction loans. Some of the newer neighborhoods in Staten Island, such as New Springville, might have properties that qualify for this loan type.
Joint Venture Loans
A joint venture loan is a commercial enterprise that allows two or more parties to pool their resources and accomplish a goal. A joint venture loan differs from other types of business loans because it has a defined endpoint. All involved parties maintain responsibility for their own debt, and all profits earned at the endpoint are split between them based on their original joint venture agreement.
Rental Loans
Rental loans are long-term asset-based loans based on stable properties. Rental loans may also be called renovate-to-rent, rehab-to-rent, or fix-to-rent loans. A real estate investor can use a rental loan to purchase a residential property and renovate it in preparation to rent it out to a tenant. This loan type can benefit beginning and experienced real estate investors. Buying a property in the Todt Hill area and renting it to a tenant could be a viable investment decision.
As leading hard money lenders in Staten Island, New York, Gauntlet Funding is the company to trust when you need a hard money loan. With years of experience, we can finance short sales, construction projects, real estate-owned properties, and other real estate ventures, getting you the money you need quickly.
The outlook for real estate investment in Staten Island, NY, appeared promising with certain factors shaping its attractiveness. The borough’s proximity to Manhattan, combined with its relatively more affordable property prices compared to other New York City boroughs, had been drawing attention from investors seeking both residential and commercial opportunities. The ongoing development of infrastructure, such as the expansion of transportation options like the Staten Island Ferry and various road improvements, had the potential to enhance connectivity and increase the appeal of the area. Additionally, the appeal of suburban living with urban amenities had been driving demand for housing, contributing to a steady real estate market. Like any investment, the real estate landscape is subject to change based on economic conditions, regulatory shifts, and unforeseen events. It’s important for potential investors to stay updated on the latest trends and seek advice from local experts before making any investment decisions in Staten Island’s real estate market.
If you have questions about the hard money loans we offer or would like to apply, contact us today. We serve clients in Staten Island and across the state of New York.
Any neighborhood in Staten Island could have a property that would qualify for a fix-and-flip hard money loan. This type of loan applies to a property that needs to be renovated and then can be sold at a profit.
Staten Island is currently one of the more affordable boroughs in New York City with a median home price of $600,000 in February 2022. According to Redfin data, the average sale price has increased by 16.1% in the last year, indicating significant growth.
To qualify for a hard money loan, an individual needs to demonstrate their ability to make the payments back to the lender and have the necessary collateral to put down. In some cases, the property being purchased serves as collateral, requiring a smaller down payment.
