New Loan Funded

Collateral:

8900 Blind Pass Rd #A107, Sarasota Fl 34242
Collateral 2: 8900 Blind Pass Rd #A307, Sarasota Fl 34242
Collateral 3: 18610 Gulf Blvd #2, Indian Shores Fl 33785

Description:

Borrower requested a $1,300,000 loan to purchase 2 beach front condos in Sarasota, Florida, while additionally pledging a 3rd free and clear beach condo that is already owned. The borrower paid $785,000 for each condominium unit, both are turn key & move in ready. Borrower plans to lease the property for short term beach rentals (1 week minimum lease term per HOA) and refinance as an exit to the loan.