Loan Amortization Calculator

An amortization schedule reveals the specific dollar amount put towards interest, as well as the specific put towards the Principal balance, with each payment. Initially, a large portion of each payment is devoted to interest. As the loan matures, larger portions go towards paying down the principal. The first payment is assumed to take place one full payment period [one month] after the loan was taken out, not on the first day of the loan. The last payment completely pays off the remainder of the loan, often the last payment will be a slightly different amount than all earlier payments. In addition to breaking down each payment into interest and principal portions, the amortization schedule also reveals interest-paid-to-date, principal-paid-to-date, and the remaining principal balance on each payment date.

There are a few crucial points worth noting when obtaining a mortgage for a home with an amortized loan. First, there is substantial allocation of the monthly payments toward the interest, especially during the first years of the mortgage. You will notice that the first payment allocates about 90% of the total payment towards interest and only about 10% toward the principal balance. Not until much later payments into the loan does the payment allocation towards principal and interest even out and subsequently tip the majority of the monthly payment toward Principal balance pay down.

Hideaways at Palm Bay is a very unique and highly profitable resort located roughly 7 miles east of the Exuma International Airport and roughly 1.5 miles west of the settlement of George Town. Hideaways has roughly 800 feet of beachfront with beautifully decorated Bahamian-style villas, nestled around the grounds.

There are a total of 95 accommodations broken down as follows:
28 units with the Full Hotel program, 14 units in the Full Hotel program but currently with separate ownership, 25 privately owned units in the Guest Services program, 23 privately owned units opted out of the Guest Service Program, and 5 staff accommodation.

Room types include Studio-Style Cottages, 1-bedroom Cottages, 2-bedroom Cottages, 1-bedroom Villas and 2-bedroom Villas. The Cottages offer mini kitchen facilities, a dining area, and private patios. The Villas offer full kitchen facilities, a dining room, a living room, and private patios.

The Hotel Facilities include a beach bar & grill, free parking, free Wi-Fi throughout the property, 1 large swimming pool, a fitness room, complimentary non-motorised water sports, and a shuttle to George Town.
The offering is divided into two separate income streams -- one being the income from the resort rentals and management program, the other being the restaurant and bar. Both are very profitable. Combined, they give a very healthy income and the sellers have brought on new units that have just been added to the rental pool, which will further increase the bottom line.

Exuma is one of the most popular Bahamian islands and has one of the hottest real estate markets in The Bahamas. Hideaways at Palm Bay offers the opportunity to step into a very successful turnkey profitable resort property, which makes this a rare opportunity in The Bahamas.