All Forum Posts by: Debbie Fales

Please join NavCap's broker liaison, Middie Rall, on this monthly live call for mortgage brokers with real estate investor clients. Middie will provide an update on the rates and leverage we currently offer on each of our loan programs and will then open up the call to your questions.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $2,300,000
Cash invested: $500,000
Sale price: $3,899,999

Located within the gated Bay Point Golf and Yacht club community, this property has it ALL. Set on a deep water lagoon with easy access to the Intracoastal Waterway and the Gulf of Mexico, it is a boater’s dream. With over 6500 square feet of living space, a brand new pool, and, not one, but two outdoor bars, this home really does check all the boxes.

What made you interested in investing in this type of deal?

Florida beachfront property has been a solid investment for many of our clients.

How did you find this deal and how did you negotiate it?

The investor on this property is a repeat client who has brought us multiple deals.

How did you finance this deal?

Short-term fix and flip funding

How did you add value to the deal?

With a repair budget of $500K, our client transformed a time worn single-family waterfront property in Panama City into a show-stopper. Recognizing the property’s unparalleled potential, they went to work. Over the course of several months, this five bedroom, five and a half bathroom home was gutted and rebuilt with high end upgrades throughout.

What was the outcome?

It's a beauty, and on the market currently.

As foreclosures normalize to pre-pandemic levels with the expiration of the government’s moratorium, it will put properties that have sat vacant for years back on the market. That spells more opportunity for real estate investors to snag a deal. 

A good private lender can provide you with a proof of funds letter for your property prior to submitting your contract. It may help you in securing the property by boosting your bid. 

Good luck! 

I agree with @Alicia Marks that you may want to consider finding a partner with some experience. Not only would it allow you to qualify for better rates and terms but you may also be able to avoid common pitfalls by working with someone who's been around the proverbial block a few times. 

Good luck!

Congratulations on making this leap of faith, @Maureen Simmons! It sounds like you're well on your way. I second the previous suggestion to take advantage of Opportunity Zones, if you can. We have had several clients who have made this tax advantaged strategy work for them, and have posted some details on our corporate blog. 

Good luck!

Debbie

NavCap Live Call With Brokers

Thursday, June 9 · 12:00 – 1:00pm

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Are you a mortgage broker with real estate investor clients? Join us! We will walk through the ins and outs of NavCap’s Broker Program, explaining how to get started and just what's in it for you. We want you to know that, beyond earning points at loan closing, working with us will help you expand your client base and boost your business overall. To RSVP, please email [email protected]. 

Good choice on Knoxville — it's got lots of untapped potential. Best of luck to you on your real estate investing journey!

Looks like you did your homework on this one. Nice job! 

@Robert Shih Another option is to find an active wholesaler in your area. They often have lists of clients searching for investment properties. 

Good luck!