DEBT INVESTMENT
107 West Warren Ave. Tampa, FL
This Tampa Florida renovation project took longer than expected due to city flood zone remapping after Hurricane Irma. Blue Bay Capital, provided the 1st position lien, as well as we came in with a 2nd position joint venture loan to help this project wrap up. The borrower completed the project with some delays but ultimately sold the property for more than they had originally estimated when we made the loan.
Sold: $440,000.00
3 Bds | 2 Ba | 1816 Sqft
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This loan was a short-term loan, 12 months. The Borrower needed more time and we extended the loan for 6 additional months. My capital partners received monthly interest payments, and when the investor sold the property my investors were paid half of the extension points too.
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1st Pos. Loan Amt = $210,000
Min. Slice Amt = $2,100
Partner Rate = 8.75% APR
Monthly Int. = $1,531.25
Loan Term = 12 months
Extension Term = 6 months
Extension Pts = $2,100
Actual Term = 16 months
Annualized Yield = 9.5%
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