Blue Bay Capital
Tampa, Florida
Direct Lender for Residential Real Estate Investors in the Southeast
Our focus is on 1st position loans, yet we will also consider 2nd position as long as we also provide the 1st. Our CLTV for both 1st and 2nd pos loans are based on a scaled LTV, please submit your request for funding to discuss your options. Our primary focus is SFR Fix2Flip, SFR New Construction in the affordable housing markets, as well as 2-4 Units. We only lend to NOO properties bought with an entity. We work through several affiliate originators. Based on where the property that your buying is located we will recommend you work with one of those affiliates.
Please note: we do NOT offer loans secured by owner-occupied homes.
Property Types
- 2-4 Units Residential
- Residential Land
- Single Family Residence
Loan Types
- Private Money
- Hard Money
- Residential Bridge
- Residential Fix and Flip
- Residential Rehab and Rent
- Residential Ground-Up Construction
Specialty Loan Types
- Residential Equity Share
- Transactional Funding
Junior Lien Loan Amounts
$15,000 to $100,000
Junior Lien Interest Rates
12% to 14.9%
Junior Lien Loan-to-Value
75%
Junior Lien Loan-to-Cost
90%
Junior Lien Origination Fees
4% to 6%
We Fund Junior Position Loans
Rarely
Junior Lien Types
- Purchase
- Preferred Equity
Junior Lien Description
Reserved for experienced investors, who also have our required reserves amount as well as we are providing the 1st position loan. We also recommend additional collateral to strengthen your fundability when reviewing 2nd lien requests. 2nd position liens will only be for SFR purchase and new construction projects.
Land Types Considered
- Residential Land
Will Consider Land That is NOT Entitled
no
Existing Land Improvements Required
- Street Access
- Electricity
- Water
- Residential Structure
Max LTV for Land
50%
Max LTC for Land Acquisition
90%
Junior Lien Types
- Purchase
- Preferred Equity
Junior Lien Description
Reserved for experienced investors, who also have our required reserves amount as well as we are providing the 1st position loan. We also recommend additional collateral to strengthen your fundability when reviewing 2nd lien requests. 2nd position liens will only be for SFR purchase and new construction projects.
Max Loan-to-Purchase Price
90%
Borrower Must Have Property Under Contract
yes
Will Provide Proof of Funds Letter
no
Will Consider Lending on Purchase from Auction
no
Allowed Source of Borrower’s Equity
- Own Cash
- Partner
- Equity in Another Investment Property
- Seller Financing
Experience Required
yes
Minimum Number of Value-Add Projects Completed by Borrower
2
Will Provide Funds for Renovation Costs
yes
Max LTC for Renovation Costs
100%
Interest Charged for Renovation Costs
Entire Amount of Total Project Costs
Typical Number of Days for Funds Draw
5
Development Experience Required
yes
Minimum Number of Ground-Up Construction Projects Completed by Borrower
5
Max LTC for Ground-Up Construction Costs
90%
Interest Charged for Construction Costs
Entire Amount of Total Project Costs
Will Lend on Partially Completed Construction Projects
yes
Underwriting Fee
Our standard underwriting fee is $1,499.00. There is a discount for Transactional Funding underwriting and cross collateralized properties.
Legal Fee
Based upon the complexity of the project and how often we have performed the same style of loan to said borrower. Our attorney fees can be as low as $750 for repeat investors, borrowing funds for the same loan product up to several thousand for unique or out-of-the-box type deals.
Credit Report Fee
50.00 is standard. We also will accept a 3 credit agency report from MyFICO.com and the credit report fee will be waived.
Extension Fee
2% for 3 months is standard, or may go 6 months for 3%
Appraisal Fee
We use a national AMC. They charge based on size and type of property. Can range from $450.00 up to several thousand, standard for a traditional SFR will be in the range of $600.00
Renovation Construction Draw Fee
$Draw fee typically around $350.00
Other Fee
Servicing fee is typically $280.00 per loan. Feasibility study fee is typically $500.000. The Feasibility study and draw inspection fees only apply when the investor is borrowing funds for construction/ renovation.
Fees which are mandatory for all new borrower clients
- Underwriting Fee
- Appraisal Fee
Fees which are paid to a third party company
- Legal Fee
- Appraisal Fee
- Title Fee
- Renovation or Construction Funds Draw Fee
- Other Fee
Additional Details
The Appraisal, Feasibility and Draw Inspection fees are all handled by a 3rd party. We do not increase or adjust these fees. What you pay is exactly what they cost. There is no mark up.
Blue Bay Capital is an FL registered company, based out of St. Petersburg, FL. Blue Bay Capital (BBC) primarily focuses on investments in the Florida and Georgia Markets. We seek after and devote time, talent, and capital towards projects that are iMpacting the local community, secured to real estate. We also commit to giving a percentage of all our bottom line profits to non-profits we support and believe in, here in the Greater Tampa Bay and nationwide.
Blue Bay Capital’s Lending Activity
Data Provided By Elementix
Total Loan Volume
$7,705,545
Average Loan Size
$197,578
Total Loan Count
30
Total Borrowers
38
Office Locations
Our Team
Mason Young
Senior Account Manager
Edwin D Epperson III
President
Our minimum loan amount is $50,000
Send an email to Blue Bay Capital
If you would like to submit the loan request to multiple lenders, please create an account.