Borrower requested a $255,000 loan to purchase a fully occupied triplex in Clearwater, Florida. The borrower paid $425,000 for the property and has no construction budget planned, as the property has been remodeled, including a remodel permit, new roof and AC. The property currently rents for a combined $3,100 / month in rental income. The borrower plans to continue leasing the property as an annual rental and refinance as an exit to the loan. A recent appraisal is available at a $425,000 value.
Collateral:
Type: Fix and Lease
Description:
This financing opportunity involves a $2.5 million lending request structured as two interest-only mortgages with a 2-year term and 12% fixed interest. The transaction includes a commercial acquisition loan supported by multiple commercial real estate assets, along with a separate residential refinance, resulting in a conservative overall loan-to-value ratio backed by substantial collateral. The primary exit strategy is to refinance the commercial property.
- Loan Amount: $2,500,000
- Date: July 2026
