Florida has more boat docks and boat slips than any other state in America. What many people don’t realize is that these boat docks and boat slips or deeded property in many cases and considered real estate that you can finance or mortgage like regular mortgage loan. Our company has specialized in boat dock and boat slip financing for many years.
We leverage the equity in your boat dock many cases these boat docks have 50k , 75k up 200k in value with expensive lifts, and buildings on the boat docks giving significant value, many customers purchase their boat slips outright at marainas around the state of Florida and or given a deed like you would be given a deed or mortgage on your home.
This type of boat dock and boat slip cash-out refinance and hard money boat dock refinance is very niche and specialized lending that 90% of banks, or credit unions have no expertise in and don’t know the specifics and how to assign a true appraised value to the Florida boat dock or boat slip. Our private and hard money investors will assign a value to your Florida boat dock or slip and then let the borrower know who much they can borrow usually it will up to 55% of the value of the boat dock or slip.
If you own the boat dock outright with no mortgage you can have zero credit, no credit or bad credit and our pool of private investors will use the deeded equity on the boat dock or slip to and appraised value and lend up to 55% of that value. This loan process is very simple and easy and only takes 14 days or less no upfront fees. When you consider the amount of boat docks and slip form Destin, Panama City, Tampa, Sasarsota, Naples, Ft Myers, The Florida Keys, Miami, West Palm Beach, Daytona you could say its in the hundreds of thousands. Where do all these people go to get the cash out refinance. Most people don’t even realize they can borrow on their boat dock or boat slip.
Again you must own the deed to this property, if you self employed a bank or credit union will not even consider this type of loan. Our underwriters have years of expertise in this type of lending.
Most homeowners who purchase a home or even a condo complex you may have a boat slip deeded in the purchase of the home, this value can be assigned a separate value and our hard money lenders will make a loan on the value of that deeded boat slip. Boat slips can vary in size from small, to medium size to massive boat slips for yachts in Boca Raton, Jupiter Florida, Coral Gables, Marco Island, Ft. Myers, Miami, Beach and many high-end areas in Florida where this real estate on a boat dock or slip could by itself be worth 300k 500k up to million dollars. This is real equity like a home or land that homeowners can borrow against.
We hope this has helped Florida boat slip or boat dock owners and yes good credit, bad credit or no credit if you own a Florida boat slip or boat dock outright and you want to borrow cash out on that deeded property, please give our underwriters a call today at (813) 368-9919.
Hard Money Network is provided by investors who offer equity loans for free and clear properties in Florida. We at AHL Hard Money Network are a lead and marketing company that connects borrowers with hard and private money investors and we provide educational resources on hard money for potential borrowers.
