Shalimar, Florida - Hard Money Loan
Florida Private Lender Terms
Location: Shalimar, FL
Purchase Price: $ 180,000
Reno Amt: $ 85,000
Loan Amt: $ 229,000
Actual Term: 3 mo.
Net Profit: $ 125,200
Cash-on-Cash: 417%
Every now and then you come across a jewel as a real estate investor and this was one of those type of projects! This property was in decent shape but the interior was outdated. No major construction simply repaint and update fixtures and finishings.
The outside was cleaned up and the yard was touched up. Not much in the way of landscaping, a decision by the renovator. We felt the investor could have earned a little bit more on his sell price by doing this but at the end of the day they walked away with a sizeable profit.
As you can see this Florida kitchen was outdated but in good condition. Opening up the kitchen into the living room area, brought in a lot of natural light, as well updating with shaker cabinets added a nice touch. New appliances always make a kitchen stand out, and are highly recommended instead of refurbished or “scratch & dent” deals at your local builder’s supply.
As you can see, the finished product looked amazing! Cream shaker cabinets bring out the warmth of the home, and add to the “country” vibe. The choice of granite matching the dark wood flooring was an excellent touch and contracted with the warm colors of the kitchen.
A fireplace can be a centerpice for a family. While most properties in FL do not need fireplaces, the Panhandle of Florida does see low winter temps, so for the location this made sense.
By offsetting the fireplace from the main wall and adding bookshelves, this piece easily became a favorite for potential home buyers. What is even more interesting this was a two-sided fireplace. On the other side was the master bedroom! Once lit you could enjoy the warmth of a fire while in bed or relaxing in the living room.
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!
