Borrower requested a $150,000 loan, to purchase a fix and flip, single family property in Valrico, FL. The property was in the process of being remodeled by another contractor who had a partnership dispute and is fire selling the property before the remodel is finished. Borrower plans to use $30,000 of his own cash to complete the remaining remodel
Collateral:
Type: Refinance
Description:
This is a $100,000 refinance loan request at 50% loan-to-value (LTV), secured by a Lake Worth, Florida condominium unit. The property has two bedrooms, two and a half bathrooms, and approximately 1,500 square feet of living space. Borrower plans to complete the renovation and exit the loan through a conventional property sale.
- Loan Amount: $100,000
- Date: June 2025