Borrower requested a $40,000 loan for an investment property purchase in Palm River Florida and will be pledging the property as collateral. The property will undergo an extensive remodel, featuring an addition of a bedroom and square footage along with a full cosmetic improvement. The borrower will be putting 60% down at the acquisition, in addition to the capital improvements which will be paid for by the borrower in cash. Borrower is an experienced construction manager and will be performing a majority of the work himself.
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
