Borrower requested a $66,500 fix and flip loan to purchase a $95,000 single-family property in Tampa, Florida. Borrower is completing a $35,000 remodel with their own capital before aiming to sell for a profit. Renovations will include a new roof, HVAC, and a cosmetic remodel. There is additionally an unpermitted ensuite in the rear of the property. The borrower intends to permit the addition, and increase the living square footage and an additional bed and bathroom.
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