Floyd Private Money Broker

About Floyd Private Money Broker

Floyd Private Money Broker is a private money lender in Aurora, CO providing loans throughout the United States. They provide loans for many different situations and needs, including short term fix and flip loans, bridge loans, and commercial hard money loans. They issue rates ranging between 9.99% and 12%, loan amounts ranging from $75,000 to $5,000,000 with a maximum LTV of 70%, and terms up to 13 months. They do not require a minimum FICO rating to receive a loan. They make loans on various property types, including single family homes, multi family, apartment buildings, office buildings, retail units, industrial buildings, and storage facilities.

Loan Types Offered: Fix and Flip Loans, Commercial Hard Money Loans, Bridge Loans

Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail, Industrial, Storage

Areas Served: National

Lending Guidelines for Floyd Private Money Broker

Below are the general loan guidelines published on the Floyd Private Money Broker website. Please confirm all terms and rates directly with the lender.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by Floyd Private Money Broker.

Loan Example 1

Patrick closes on a $210,000 renovation project in Santa Rosa, CA, using a hard money loan from Floyd Private Money Broker. The lender agrees to make a note with a 75% loan-to-value (LTV) so they will extend $157,500 on the project. The deal also has the following features: 1) a 18 month length, 2) a 9% interest-only note, and 3) a one percent origination charge.

The borrower will have to bring a total of $32,400 up front to cover the $52,500 down payment in addition to the $1,575 origination fee. The monthly interest-only payments will then total $1,181 to Floyd Private Money Broker. If Patrick sells the renovated project for $262,500 at the end of the 18 month term, his total profit (not accounting for remodeling expenses) would be $29,663. This is calculated by taking the purchase price ($262,500) and subtracting the original note amount ($157,500), the origination fee ($1,575), the money he contributed to closing ($52,500), and the total interest expenses ($21,263).

Loan Example 2

Brian locates a house in Milwaukee, WI to rehab and resell. Because he does not have enough cash to buy the property outright, he takes a fix and flip loan from Floyd Private Money Broker with the following parameters:

a) A $250,000 purchase price, b) a 75% loan-to-value (LTV), c) a 12 month term, d) a 10% interest rate, and e) a 1% origination fee.

After the rehab project is complete, if Brian sells the house for $325,000, the final numbers would be the following:

$325,000 sales price
- $187,500 principle on note (75% LTV)
- $62,500 down payment (25% on 75% LTV)
- $1,875 origination fee (1% of the $187,500 principle)
- $18,750 total interest paid (12 months x 10% interest)
-----------------------
= $54,375 total profit (does not include taxes or rehab costs)

No Reviews Yet

Floyd Private Money Broker currently has no reviews. To add a review now, click the link below:

Write a Review for Floyd Private Money Broker