Borrower requested a $108,500 loan to purchase a $155,000, 2 bed 1 bath property in St, Petersburg Florida. The property is set to undergo a $15,000 cosmetic renovation before being rented out for long term housing. Borrower plans to exit the loan with a bank refinance, adding the property to his rental portfolio as it is in a desirable location.
Collateral:
Type: Fix & Flip
Description:
The borrower requested a $130,000 fix-and-flip loan secured by a single-family home in Pensacola, FL. The property currently features 3 bedrooms, 2 bathrooms, and 1,328 square feet of living space on a 1-acre lot. The borrower is also collateralizing a separate, free-and-clear single-family home. This property, built in 1992, sits on 0.42 acres and includes 3 bedrooms, 2 bathrooms, and 1,431 square feet of living space. The borrower’s exit strategy is to sell the property.
- Loan Amount: $130,000
- Date: May 2026
