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bank owned reno

Bank owned, or REO properties, can yield nice profit margins for investors working in a hot seller’s market, such as the one we’re experiencing now on Long Island. This Gauntlet Funding borrower had plenty of experience with REOs, and luckily, the property required a limited renovation. It was purchased for $375K and renovated for $60K, and sold this past July for $550K.

Profitability is always an issue when the cost to bring a property to market is high. A case in point is a large two-family in the Bronx that needed a gut renovation. With a $129K reno budget, the deal only worked because the borrower was able pick up the property at a significant discount. Purchased with a Gauntlet Funding loan that covered his renovation, the borrower fixed the property with a modern design that appealed to buyers. He recently sold it for $50K over the appraised value.

bronx home 2

Real Estate investment opportunities can still be found within NYC, and our smart borrower recognized it in this two-family in the Bronx. Purchased in the last week of 2019 with a Gauntlet Funding loan of $409,500, she was able to sell it recently, despite an ongoing pandemic. With a repair budget of nearly $50K, the renovated property sold in November for $690K.

historic-home

Historic homes in charming suburban settings are often neglected and sometimes even torn down by municipalities. But real estate investors know there’s a market for renovated 100-year-old properties. The potential of this property was immediately apparent to our borrower. Purchased with a hard money loan of $425K, and with a renovation budget of $74,000, the result is a pretty house with reclaimed charm. And it made a nice profit for our borrower too when it sold for $645,000.

home1

Renovating an investment property can quickly deplete an investor’s cash flow. Refinancing is often the answer to ensuring that the full value of the property is realized when it is sold. This smart borrower went that route, financing his repairs with a hard money loan, enabling him to sell for nearly double his purchase price.

home2

With a little imagination, and a fast loan turnaround time from Gauntlet Funding, this smart buyer was able to purchase, renovate and return to the market in under a year. Purchased for $262K, it recently sold for $409K.

jacksonville-unit

We recently funded a great investment property for one of our borrowers in Jacksonville, Florida. The four units in this two-building property will soon be ready to rent, following minor cosmetic renovations. Our fast funding turnaround ensured that the borrower will soon start receiving a return on investment.

long-island-home

This Long Island short sale reaped a nice payoff for our experienced borrower. Purchased with a Gauntlet Funding hard money loan that included the $147,000 purchase price and a small renovation budget of $45,000, it quickly returned to the market. It recently sold for $270,000, nearly $50,000 above the ARV.

long-island-short-sale

During a strong seller’s market in the middle of a pandemic, our borrower was eager to see a return on investment for this Long Island short sale. Once he secured a Gauntlet Funding hard money loan and repair funds, the property was transformed in under a year. It recently sold for nearly $20 thousand above the appraised ARV.

scranton-home

When a great deal surfaces, Gauntlet Funding works with investors to help fund the purchase. This Scranton, PA, location is an example — a distressed property at a great price that was transformed by our borrower. With a complete renovation, it recently sold for nearly double the purchase price and renovation budget.