DEBT INVESTMENT
1501 W 13th Street
Panama City Beach, FL
This Panama City Beach, FL property was bought by a long-time renovator at a deep discount. As you can see from the photos, the property's prior owner had begun work but did not complete the project. Our investor was able to buy the property for pennies on the dollar and assumed the title without going through a closing. We funded 100% of their construction, along with refinancing the hard costs of them considering the property.
Sold: $250,000.00
4 Bds | 2 Ba | 1370 Sqft
-
This loan was a refinance to an experienced investor. They had assumed the ownership of the property through a Quit Claim Deed. They drafted the plans for the project and we financed 100% of the work and even allowed a refinance of their hard costs to assume the property several months earlier. This was originally a 6-month project, but due to delays in material, the borrower requested a 6-month extension, brining our total loan term to 12 months. Our partners recieved monthly interest payments and were able to participate in the extension points.
-
1st Pos. Loan Amt = $140,000
Min. Slice Amt = $1,400
Partner Rate = 8.25% APR
Monthly Int. = $962.50
Loan Term = 6 months
Extension Term = 6 months
Extension Pts = $4,200.00
Actual Term = 9 months
Annualized Yield = 15.07%
If you are interested in learning more about how I and my partners structure our investments and, most importantly, how to mitigate your risks and cover your downside, then join my Investor Club for FREE!
