Borrower requested a $243,500 loan to purchase a single family fix and flip property in Ocala, FL. The borrower has a $60,000 planned construction budget to renovate the property and then operate the property as an Airbnb before refianancing as an exit to the loan.
Collateral:
Type: New Construction
Description:
This is a $380,000 new construction loan request for a single-family property located in St. Augustine, FL. The home will feature 3 bedrooms, 2.5 bathrooms, and an office that can serve as an additional bedroom, with a total of 2,256 square feet of living space. The borrower will refinance the subject property if the builds and the sales take longer than anticipated.
- Loan Amount: $380,000
- Date: December 2024
