Borrower has requested a $105,000 loan, to purchase and flip a mobile home property in Riverview, Florida. The property is being purchased for $105,000 and the borrower is completing an estimated $15,000 remodel with their own cash. The borrower is additionally pledging a renovated single family home in Thonotosassa as additional collateral for the loan. The renovated SFR is currently cash flowing and tenant occupied (borrower completed remodel previously). Borrower plans to complete the remodel of the mobile home and sell in 4-6 months. The borrowers own a trucking company and are also in construction, with recently completed projects, but are new to DKC Lending.
Collateral:
Type: New Construction
Description:
This is a $260,000 new construction loan request on a duplex located in Port Charlotte, FL, with an initial disbursement of $60,000 at closing. Upon completion, the property will consist of two units, each featuring 3 bedrooms, 2 bathrooms, 1,247 square feet of living space, and a 1-car garage. The borrower intends to refinance the property as the primary exit strategy.
- Loan Amount: $260,000
- Date: August 2025
