Jacksonville, Florida - Fix and Flip Loan
Private Mortgage Terms
Location: Jacksonville, FL
Purchase Price: $50,000
Reno Amt: $43,000
Loan Amt: $45,000
Actual Term: 5 mo.
Net Profit: $47,950
Cash-on-Cash: 96%
This was a quick turn by our investor in Jacksonville, FL. They have the experience and the team ready to line up and take down projects quickly and efficiently. This project was completed in under 30 days, and was listed for sale and sold within 3 months. These are the type of deals we love to fund. The least amount of time an investor holds a property the more profit they make and the happier they are. We want HAPPY investors!
The interior to this property was not in bad shape. The property was a rental before our investor bought it, and they immediately went in to make it “Rent Ready” for an end buyer who would be a Landlord. Knowing your exit strategy in Real Estate is one of the most important aspect investors can know going into a project.
The kitchen can be one of the top selling aspects of any home. Be sure to adequately account for a kitchen renovation so that it appeals to your end buyer. This dovetails off your exit strategy. Our investor knew that they would be targeting landlords, they allocated the correct budget for a rental kitchen renovation.
Not every project needs a complete make-over on the outside. Sometimes replacing windows, roof and updating the paint can go a LONG way in adding value. because this property was going to be a rental it did not need much as far as exterior improvement. *Pro Tip - pressure washing a driveway is an excellent way to increase curb appeal without denting your wallet!
Adding accent walls is a nice touch, but the time needed and the perceived value may not match every exit strategy. Thats why we work closely with our investors to help them determine the correct strategy for their market and to maximize dollars spent versus dollars gained.
Our investor went with streamlined and commercially durable kitchen hardware and appliances. Know who your target audience is and how to cater to their needs and expectations and you will receive your expected return on your real estate investments.
Are you looking for a rehab lender that is local to Florida? Blue Bay Capital can provide you your next purchase and construction loan
Are you interested in reviewing our loan programs, and what we offer to new and experienced investors? Navigate below to view what Blue Bay Capital can offer you.
