Waterfront SFR Fix and Flip in the Florida Panhandle

Funded by Navigator Private Capital

1,530,000

Deal Details

Private Loan Type

Residential Fix and Flip

Approx. Funding Date

03/29/2022

Property Type
Single Family Residence
Property City

Panama City

Property State

FL

Loan Term (months)

12

Lien Type

1st Mortgage

Payment Type

Interest Only

Purchase Price

$1,200,000

Loan-to-Purchase Price

90%

Borrower's Contribution to Purchase

10%

Source of Borrower's Contribution

Cash

Renovation Budget

$450,000

Renovation Budget Funded

100%

After-Repair Value

$2,225,000

Loan-to-After-Repair Value

68%

Renovation Project Scope

Light Rehab

Location Type

Vacation Area

Property Condition

Newly Renovated

Occupancy at Closing

Vacant

Number of Units

1

Borrower's Plan

Rehab and Sell

Exit Strategy

Sale

Borrower Credit Rating

Excellent

Deal Highlights

Gorgeous waterfront location in a protected cove with easy access to the Gulf of Mexico
With a purchase price of $1.2M and a repair budget of $450K, this beauty was re-imagined.
With over 5,000 square feet of space, this 6-bedroom, 7-bath home has room for everyone.

Deal Summary

Navigator Private Capital, a nationwide private real estate lender, funded a $1,530,000 fix and flip loan for a single-family residence in Panama City, Florida. Our clients found this neglected fixer-upper and were able to envision all that it could become. Looking past its current condition, they recognized the enormous potential in its size and layout. With a purchase price of $1,200,000 and a repair budget of $450,000, this six-bedroom, seven-bathroom home was renovated from top to bottom. Navigator Private Capital funded 100% of the renovation budget and financed 90% of the purchase price in first lien position, while the Borrower contributed 10% cash. The loan-to-after-repair value was 68% and the after-repair value (ARV) was estimated to be $2,225,000. The Borrower had an excellent credit rating and plans to sell the property after rehab, within the 12-month loan term.

This gorgeous waterfront location in a protected cove with easy access to the Intracoastal Waterway and the Gulf of Mexico boasted over 5,500 square feet of fully modernized space. This beauty had plenty of room for a family (or two) to spread out, with outstanding water views from nearly every room. It’s an entertainer’s dream, but the transformation doesn’t stop on the inside- get ready for backyard entertainment as well with a private pool, a dedicated boat dock, and an outdoor kitchen. This SFR fix and flip loan was funded in March 2022.

Funded By

Navigator Private Capital

Knowledge. Experience. Integrity.

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