Private Money Loan for Miami Beach Home Acquisition and Rehab

BridgeInvest funded a $1,100,000 private money loan for the acquisition and rehab of a single family residence on Bay Road in Miami Beach, Florida. The Borrower is an experienced real estate investor who has completed similar rehab/construction projects in the area. Our creative financing not only disbursed funds for the acquisition of the property but also provided additional funds towards the renovation. We were able to close the loan on a tight deadline with a fixed closing date despite the seller not allowing inspections of the property. Built in 1925, the home has 6 bedrooms, 4 bathrooms and approximately 3,500 square feet of livable area. The historical house, located one block west of the Miami Beach Golf Club will be completely rebuilt with luxurious finishes and a pool in the backyard. The Borrower plans to sell the home upon completion of the rehab to pay off this loan, which was funded in June 2015.