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.
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 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.