Borrower requested a $60,000 loan to purchase a single-family, fix and flip property in Daytona Beach, Florida. The borrower paid $85,000 for the property and has a full remodel planned with a construction budget of $40,000, including a new roof, ac, and full cosmetics. The property currently features 1 bed and 1 bath at 704 sq/ft and has an estimated ARV of $170,000-$180,000 after adding a second bedroom.
Collateral:
Type: New Construction
Description:
This is a $120,000 new construction loan request secured by a single-family home located in Spring Hill, Florida. The property is being built as a 4-bedroom, 2-bathroom residence with a 2-car garage, totaling 2,123 square feet. The home is fully dried in, with interior drywall and texture finished, bathroom tile installed, and all exterior work complete except for landscaping and the driveway. The planned exit strategy is to sell the property upon completion.
- Loan Amount: $120,000
- Date: September 2025
