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Smaller PML Opportunity- First lien position, 20% LTV 12 month bridge loan, Offering 15% APR +

Florence "Marti" Stanford

The short version:

My business partner and I are seeking a $55,000 1st position bridge loan on our 1 bedroom oceanfront condo located at 3647 S. Atlantic Ave, Daytona Beach  Shores, Fl. Property value is $275,000 based on recent sales. Offering 15% APR for a 12 month term, with a minimum return of $5,500 (Straight 10%) if repaid in under 6 months. Funds are to satisfy assessments levied for hurricane damage from Fall of 2022 and structural upgrades to the balconies required by the county and state.  Most of this work has been completed or is nearing completion.

My partner and I have 2 STR condos, 1 LTR doublewide, and occasionally flip properties in the central Florida market. We have been very successful overall and have not needed outside capital in the past 3 years, but have hit a bit of illiquidity during the building closure for the hurricane repairs, and are seeking to bless someone with above average returns in exchange for assistance over this hurdle.

The condos have a strong rental history even through the hurricane damage and construction period, and we anticipate repairs being fully completed and rents at full market rates by June 1,2024.  We are extremely well insured by Proper Insurance and rebuilt to the most recent codes in preparation for the upcoming hurricane season.

Please see the links below for more information and contact me for any additional questions you may have.

Beach Condo Loan Pitch  

Click above for more details on this opportunity (The longer version)

See link above for pictures of the subject property and rental calendar