Borrower requested a $157,000 loan to purchase a single-family, fix and flip property in Holiday, Florida. The borrower paid $205,000 for the property and has a $27,000 construction budget planned, primarily cosmetic. There will be a construction hold back of $13,000, with a draw schedule. Borrower is a real estate broker and repeat DKC client.
Collateral:
Type: Refinance
Description:
Borrower requested a $150,000 loan to refinance a single-family property in Odessa, Florida. The property features 4 beds and 4 baths at 4,285 sq/ft. Borrower plans to use the proceeds of this loan to pay off debt and plans to list the property for sale as an exit to this loan.
- Loan Amount: $150,000
- Date: March 2024