All Florida
Our service area is all 67 counties of Florida. For investors in multiple deals with us, this gives you much better diversification than investing in larger mortgage loans.
Low LTV
One of the first things we check is the valuation. For our first valuation, we take the average of the county appraiser’s market value and the Zillow value. The county tends to undervalue and Zillow tends to overvalue, so the average is usually close enough for the margin of error we work with. After we get the walk‑through video and the 4‑point inspection, we’ll reevaluate if necessary.
Our target zone is 20-30% LTV.
Flood Zone Check
Florida has a lot of low‑lying property. Some is especially vulnerable to flooding. We don’t want those.
Roof Inspection
The roof is the most important point of the 4‑point inspection. It needs to last the life of the loan, even if it may need some repairs.
Condo Screening
Condos on their own lots are usually fine. Condos in stacked units don’t have enough land rights to cover the loan in total catastrophes.
Property Mix
In round numbers, expect 75% manufactured homes, 20% SFR, and 5% condos.
Full Recourse
Because we’re ultimately on the hook if things go bad, we want to be sure there’s enough property value to cover the loan, even after a major catastrophe.