DEBT INVESTMENT
7005 Westshore Blvd. Tampa, FL
I underwrote and made this loan in about three weeks. I then allowed my partners to participate in this loan while earning 8.5% annually on their money. The borrower was an experienced investor who we had completed several projects with. Every month the borrower paid Blue Bay, and I, in turn, paid each partner investor every month. Some investors withdrew their earnings while others, reinvested those distributions into other loans.
Sold: $319,000.00
3 Bds | 2 Ba | 1337 Sqft
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This was a 1st position loan to a repeat borrower. They had the team and the experience to move through the project, however, like many projects that had loans on them during the aftermath of Hurricane Irma, the city permitting department was seriously delayed. This forced the borrower to request an extension to our loan which we gladly allowed, as they paid interest on time. This project went close to 18 months but every month the partners received monthly payments and they shared in the extension points when the loan was paid back.
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1st Pos. Loan Amt = $210,000
Min. Slice Amt = $2,100
Partner Rate = 8.50% APR
Monthly Int. = $1,487.50
Loan Term = 9 months
Extension Term = 9 months
Extension Pts = $4,200
Actual Term = 18 months
Annualized Yield = 9.83% APY
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!
