BiggerPockets

Description:

This parcel is located on the Island of Grand Bahamas. It is close to the casino’s, marina, beach and shopping. It is deeded Fee Simple and owned Free & Clear.

My client is looking for $100,000 loan on his canal front (deep water) with no bridges and direct ocean access lot on the island of Grand Bahamas. This prime real estate lot is located in a very desirable area near shopping, marina and the casinos of the island. All of the homes in that area are multi-million dollar homes. The Island of Gran Bahamas is located just 56 miles off the coast of Fort Lauderdale. Currently this lot is owned free and clear and deeded fee simple. The loan needed would be amortized for 30 yrs, interest only payments, with a balloon in 2 yrs and can return 18% on that borrowed amount. The property was evaluated in 2007 at a price of $395,000. The funds are needed in order to move a venture off to the manufacturing stage. The loan has the potential to be repaid early (within 8 to 12months). In this event, the full amount of the interest, for the entire years will still be paid. The loan will be protected against a lien on the property. Our client is flexible in making sure that the borrowed loan is well protected for the investor and can discuss any other terms needed in order to move this forward.