DEBT INVESTMENT
703 East Broad St. Tampa, FL
This loan was to be a short-term loan, 12 months or less, and the borrower was a solid, well-reputable investor in the Tampa Bay market. They bought the property for $130,000, and put down over $80,000 of the purchase! The renovation was $60,000 and we held those funds in arrears. As work was completed I disbursed construction funding, after having the work inspected. This became an easy and seamless investment for my partners and they were happy receiving monthly payments knowing their investment was secured to a 1st position loan.
Sold: $317,999.00
3 Bds | 2 Ba | 1128 Sqft
-
This was a typical 12-month loan to a borrower who had a very solid reputation in the Tampa Bay market. They planned to renovate and then refinance into a long-term 30-year loan so that they could hold it and rent it out. Every month the borrower made their payments on time, and I collected and then disbursed those payments to my partners. They were able to withdraw their interest or roll it over into new investments.
-
1st Pos. Loan Amt = $117,000
Min. Slice Amt = $1,000
Partner Rate = 8.25% APR
Monthly Int. = $804.38
Loan Term = 12 months
Actual Term = 9 months
Annualized Yield = 8.25% 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!
