Fort Walton Beach, Florida - Private Loan Investment
Florida Private Lender Terms
Location: Fort Walton Beach, FL
Purchase Price: $ 83,200
Reno Amt: $ 90,000
Loan Amt: $ 157,000
Actual Term: 7 mo.
Net Profit: $ 10,000
Cash-on-Cash: 5.8%
Not every deal is a slam home run. This was one of them. This was our second deal with this borrower, yet they had lots of experience. The unforeseen problem with this project was a foundation issue under the carport and the Northside of the house. The planned profit would have been close to $50,000, a Cash-on-Cash return of well over 300%. Alas, not every deal is picture-perfect.
Whatever the issues with the foundation is, a foundation remediation expert can help fix. With warranties and inspections, the homeowners of this property were assured that if anything went wrong they were covered. This also helped with insurance.
Kitchens are a theme with our investors and it’s one of the highlights we love to tell story about (and show pictures of course). A small nook kitchen with limited light due to the window cover and outdated cabinets made for a perfect area to allow the investor to shine in their design skill.
Not every kitchen can be “opened” yet being able to blend and match your cabinet and countertop colors can make a small space seem much larger. We loved the combination of white cabinets with the birch wood floors!
Again, fireplaces in FL are not common. In most central to South Florida homes, you will rarely see a fireplace installed. But in the Panhandle of FL, Fort Walton Beach, it can get cold for the winter months, so the location made sense to keep the fireplace.
Painting the fireplace while installing inset bookshelves ensured that the new homeowners would feel relaxed and comfortable in their new family room. It is all about the end buyer experience, and having a property that sells that end buyer experience is so key.
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!
