Borrower requested a $725,000 loan to purchase a single-family property in Fort Myers, Florida that sits on 7 cores. Additionally, the borrower is collateralizing a free and clear duplex also in Fort Myers. The single family, 7 Gore property was purchased for $700,000 and the borrower has a $43,000 construction budget planned. The property features 3 beds and 3 baths at 1,910 sq/ft. The 2nd place of collateral was purchased in 2014 and has since been fully remodeled, and is now tenant occupied ($330,000 estimated value).
Collateral:
Type: Fix and Lease
Description:
The borrower has requested a $70,000 loan to refinance a condo property in Punta Gorda, Florida. The borrower is paid $118,000 for the property. The property features 2 beds and 1 bath at 1,037 sq/ft. The borrower refinance as an exit to the loan with DKC using a DSCR product.
- Loan Amount: $70,000
- Date: December 2024
