Direct Express Realty

About Direct Express Realty

Direct Express Realty is a St Petersburg, FL based private money lender offering loans in Tampa. They offer lending solutions for a variety of situations and needs, including short term fix and flip loans and loans for investments properties. They will consider different loan scenarios but generally focus on single family units.

Loan Types Offered: Investment Property Loans, Fix and Flip Loans

Property Types Covered: Single Family

Areas Served: Tampa

Lending Guidelines for Direct Express Realty

Below are the general loan guidelines published on the Direct Express Realty 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 Direct Express Realty.

Loan Example 1

Malinda closes on a $230,000 rehab project in Tampa, FL, using a hard money loan from Direct Express Realty. The borrower will need to contribute 45% of the purchase price in cash to closing based on a 55% loan-to-value stipulated by the lending company. This makes the principle amount from Direct Express Realty $126,500. The loan also includes these features: 1) a 18 month length, 2) a 9% interest only note, and 3) a five percent origination charge.

Therefore, Malinda will be required to contribute a $103,500 down payment in addition to paying a $6,325 origination fee. The monthly interest only payments will then total $949 to Direct Express Realty. Assuming she sells the rehabed project for $333,500 at the end of the 18 month term, her total profit (not including renovation expenses) would be $80,098. This is computed by taking the purchase price ($333,500) and subtracting the principle ($126,500), the origination cost ($6,325), the money she brought to closing ($103,500), and the total interest expenses ($17,078).

Loan Example 2

Direct Express Realty makes a fix and flip loan to Lara for a rehab project in Tampa, FL. The loan dictates the following:

$190,000 purchase price
65% loan-to-value (LTV)
12 month term
14% rate of interest
1% origination fee

Lara plans to sell the property at the end of the term for $266,000. If she succeeds, the outcome will be the following:

$266,000 sales price
- $123,500 principle (65% LTV)
- $66,500 down payment (35% on 65% LTV)
- $1,235 origination fee (1% of the $123,500 principle amount)
- $17,290 total interest paid (12 months x 14% interest)
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= $57,475 gross profit (does not include taxes or rehab costs)

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