Borrower requested a $255,000 loan to purchase a fully occupied triplex in Clearwater, Florida. The borrower paid $425,000 for the property and has no construction budget planned, as the property has been remodeled, including a remodel permit, new roof and AC. The property currently rents for a combined $3,100 / month in rental income. The borrower plans to continue leasing the property as an annual rental and refinance as an exit to the loan. A recent appraisal is available at a $425,000 value.
Collateral:
Type: New Construction
Description:
Borrower requested a $110,000 loan to complete construction of a single-family property in Lehigh, Florida. The property features 4 bedrooms and 3 bathrooms, 2,152 square feet of living space, and a 2-car garage on a 0.25-acre lot. Borrower plans to lease the property for an annual rental after the renovation and refinance as an exit to the loan.
- Loan Amount: $110,000
- Date: July, 2026
