Santa Rosa Beach, Florida - Fix & Hold
Florida Hard Money Loan Terms
Purchase Price: $425,000
Reno Amt: $210,000
Loan Amt: $550,000
Actual Term: 17 mo.
Net Profit: $240,900
Cash-on-Cash: 85%
This is one of our favorite renovations on the Panhandle of Florida! Situated in Santa Rosa Beach, on 30A, this property had gulf coast views from the balcony and the 3rd floor master bedroom. Our investor, who we had don’t over 10+ loans with bought this property at auction using our funds, and we provided 100% funding through our VEST’d Member program, a JV structure.
The finished product was incredible, and the investor refinanced and held the property as a short-term rental for a few years and then sold in for over $1.2M. The property was only located 1 block from the beach.
The property was in bad need of repair. The investor bought it on Auction and we cleaned up title. We then partnered with our Equity Partner provider, which provided the Client with a 100% funded renovation and we funded 9 months of interest for our 1st position loan. The investor did not have to bring any down payment money to the table and our VEST’d Member program, using an Equity Partner, provide all the soft cost and carrying costs for the entire project.
The remodel was fantastic. This Florida rehab project was used as a STR for a period of time and then was sold for $1.2M.
The Master bathroom can be, in many cases just as important as the Kitchen in as far as its ability to sell the end buyer. You will notice that the master bathroom was remodeled with some of the nicest bathroom finishes available with an open, glass wall concept.
This property was a perfect property for an STR, it had 5 bedrooms, with 4 bathrooms, and two half baths. Each family basically had their own adult bathroom and the kids had a bunk room which slept four children.
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!
