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: Refinance
Description:
Borrower requested a $150,000 loan to refinance a single-family property in Odessa, Florida. The property features 4 beds and 4 baths at 4,285 sq/ft. Borrower plans to use the proceeds of this loan to pay off debt and plans to list the property for sale as an exit to this loan.
- Loan Amount: $150,000
- Date: March 2024