DEBT INVESTMENT
3401 E. Hanna Ave
Tampa, FL
A first-time renovator bought this Tampa, FL property, but with an experienced GC, at a deep discount. As you can see from the photos, the property's prior owner was a hoarder, and a serious one at that. Our investor was able to buy the property for pennies on the dollar and completed the work right before his initial term ended. We still needed to grant an extension, but he has made a stunning property.
(Pending): $
4 Bds | 3 Ba | 1719 Sqft
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This was the first fix & flip this investor had purchased, yet he had a very experienced GC working with him, and he had an experienced RE Investor as a mentor, someone who we had loaned to in the past. The Tampa, FL, property is just on the East side of I-275, heading into Tampa, next to a famous and very high-end neighborhood called Tampa Heights. The original term was for 10 months, but we had to grant a 3-month extension. The borrower paid every month and on time. Our investors earned a stable, dependable return, paid out monthly.
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1st Pos. Loan Amt = $287,000
Min. Slice Amt = $2,870
Partner Rate = 8.50% APR
Monthly Int. = $2,032.92
Loan Term = 10 months
Extension Term = 3 months
Extension Pts = $2,152.50
Actual Term = 13 months
Annualized Yield = 9.19%
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