Borrower requested a $120,000 loan to purchase a single-family, fix and flip property in Hudson Florida. The borrower paid $187,500 for the property and had a $35,000 construction budget planned. ARV is estimated $250,000-$275,000. The borrower owns a construction management company and performs the construction with his own crew.
Collateral:
Type: New Construction
Description:
Borrower requested a $165,000 loan to refinance a new construction single-family property in Fort Lauderdale, Florida. The property will feature 3 beds and 2 baths at 1,490 sq/ft with a 430 sq/ft two-car garage. The borrower plans to sell the property as an exit to the loan.
- Loan Amount: $165,000
- Date: April 2024
