Borrower requested a $100,000 loan to purchase a manufactured home property with .37 acres, 2 blocks off of a lake in Land O Lakes, Florida. The borrower paid $197,500 for the property and has a $75,000 construction budget planned. The borrower plans to renovate the existing manufactured home, install another manufactured home on the property and rent both units out as short-term vacation rentals.
Collateral:
Type: Refinance
Description:
This request is for a $400,000 refinance loan secured by a single-family residence located in the Walden Lake Community in Plant City, Florida. The property features three bedrooms, five bathrooms, and an executive office that can also serve as an additional bedroom. The residence offers 4,444 square feet of living space on a 0.37-acre lot and is situated directly on a private golf course. Borrower exit strategy is to refinance into a DSCR loan after liquidating other investments.
- Loan Amount: $400,000
- Date: October 2025