Plant City, Florida - Fix and Flip Loan
Florida Hard Money Terms
Location: Plant City, FL
Purchase Price: $142,000
Reno Amt: $50,000
Loan Amt: $162,000
Actual Term: 4 mo.
Net Profit: $28,500
Cash-on-Cash: 98%
Our investor is an experienced investor with well over 100’s of projects over their career. We had worked with them on multiple projects and were excited to complete another one with them. The construction costs were not much, and a large part was sprucing up the outside. This was a typical project and went smoothly from start to finish.
As you can see the unique color may be a BIG turn-off for some homeowners, but this is where knowing your local market is so key. Here in Florida, having an “ocean” colored home is actually something of and in thing. With bright colors, it’s almost always a safe route to go with bright white trim. As you can see the house stands out!
Many times kitchens do not need to be “redone”. In most cases if done properly you can take an old kitchen, using all original parts and yet make it feel new and improved. The challenge here was the natural light coming into the kitchen, that and the old 70’s light boxes in the ceiling.
What a difference! This kitchen only needed an extra window above the sink, which the investor had installed. You will also notice that the box lights were replaced with recessed lights. All the cabinet doors and drawers were replaced with new hardware and soft close hinges. The panels were in excellent shape and simply needed a good cleaning.
Bathroom, the pride and glory of many-a -renovators! Beside's the kitchen, bathrooms are the biggest change in most renovated homes. Taking a tight space and making it feel open and spacious can be a challenge for newer investors. Removing clutter and starting with the bare bones is a great way to let your creativity run free.
As you can see, the investor added tons of “Space”, not by adding sqft to the bathroom, but by simply replacing the cast iron tub with a walking shower and glass door. Simple yet elegant these cost-effective renovations can significantly add value in the eyes of the end home buyer, your client!
Are you looking for funding on your next Florida real estate deal? Why not work with a real 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!
