Brandon, Florida Hard Money Lender
Fix and Flip Loan Terms
Brandon, Florida Rehab Loans
Location: Brandon, FL
Purchase Price: $ 115,000
Reno Amt: $ 48,000
Loan Amt: $ 145,750
Actual Term: 4 mo.
Sell Price: $190,000
Net Profit: $ 11,800
Cash-on-Cash: 68%
We would like to point out that not every property is a home run. Sometimes the profitability of a project does not pan out. This was the case with this project. The investor originally believed they would be able to jump into this project, quickly update the interior and repaint the exterior and double their money in a short time. Alas not every deal has an awesome ending.
Florida Stucco Benefits
Personally, Florida stucco homes are just an eye-sore. We don’t like the finished look of the product (all the houses look the same) as well given enough time the metal messing under the stucco can begin to rust if enough stucco has not been applied. In this case, though the change in color brought this property to life. That, and wonderful photography. Be sure to invest in a real estate photographer when creating your listing photos.
Bathroom Over Budget but Beautiful Product
As always bathrooms are a great way to ensure profitability. In this case the bathroom was an easy cleanup and wipe down. By simply adding new lighting and giving the grout a good scrubbing you can make an old bathroom come to life. What is not shown in this photo is the master bathroom, where water damage had required a complete gut job and floor joist replacement. This ultimately increased the budget for that one bathroom, and reduced improvements to the other bathrooms, such as this one. Making sure that investors have a flexible lender that will allow them to shuffle money set aside for one part of the project to another is key and critical.
So Fresh and So Clean
Remember sometimes working within a budget that changes you have to make with what is available. Given the over-budget issue with another bathroom the investor had to shuffle money around and the improvements allocated to this bathroom had to be minimized. We show you this before and after to highlight the importance of professional photos, as well knowing a good handy-man that knows how to clean grout!
Dim Lit Rooms Need A Fresh Look
Sometimes a large open room simply needs a fresh coat of paint and the floor cleaned and polished. In Florida, many public use rooms such as the entryway and livingrooms are covered in tile. This provides for easy cleaning and a durable finish. As seen in the previous photos a simple fresh coat of paint can breath life into a dimly lit room.
Repaint, Retrim, Relist
As you can see the interior of the renovated home looks warm and welcoming. Keeping the space open and adding in a vaulted ceiling can add even more space to the feel of a room. Overall this project would have taken a lot less time, and could have been completed in record time, had it not been for the Masterbath. Just remember, be sure to conduct thorough inspections to ensure you are aware of as many issues with a property as possible.
Are you looking for funding on your next Florida real estate deal? Why not work with a Florida Private Lender!
Are you interested to see what loan programs Blue Bay Capital has to offer? We fund Fix and Flippers, Builders, and Wholesalers!
