Borrower requested a $120,000 loan, to purchase a single-family property in Tampa, Florida. The borrower payed $175,000 for the property and has a $125,000 construction budget planned that includes adding a second story to the existing structure. Borrower has completed multiple real estate projects with DKC including ongoing development projects.
Collateral:
Type: New Construction
Description:
This is a $200,000 new construction loan request for a single-family home located in Fort Myers, FL. Upon completion, the property will comprise two separate structures: the main residence, which features seven bedrooms and six bathrooms across 1,837 heated square feet, and a 550-square-foot studio suite, totaling 2,387 square feet of heated living area. Borrower exit strategy for this particular property is a long-term hold, with plans to refinance using a debt-service coverage ratio (DSCR) loan.
- Loan Amount: $200,000
- Date: June 2025