Borrower requested a $265,000 loan to purchase and remodel a triplex in Mulberry Florida, while additionally pledging a cash flowing single family rental property in Lakeland, Florida as collateral for the loan. The Triplex is being purchased for $190,000 and has a $50,000 remodel planned. The cash flowing lakeland property is rented for $2,500/month.
Collateral:
Type: New Construction
Description:
This is a $200,000 new construction loan request secured by a single-family new construction project in Tampa, FL. The subject property will feature 3 bedrooms and 2 bathrooms, a 1-car garage with 1,176 square feet of living space. The borrower plans to refinance the property as an exit to this loan.
- Loan Amount: $$200,000
- Date: May 2026
