Borrower requested a $85,000 loan to purchase a single-family fix and flip property in Eustis, Fl. The borrower paid $64,000 for the property and has a $45,000 total construction budget planned with a draw schedule from DKC. The property features 3 beds and 1 bath at a total 908 sq/ft. Borrower plans to rehab the property and then sell the property after the renovation as an exit to the loan.
Collateral:
Type: Refinance
Description:
This is a $350,000 refinance loan request secured by two residential dwellings on a single 1.5-acre parcel in Kissimmee, FL. The main residence at Cahokia Ct is a single-family home with four bedrooms, three bathrooms, approximately 2,977 square feet of living space, and an in-ground pool. The second dwelling was newly constructed in 2024 on the same parcel. This structure includes three bedrooms, one bathroom, approximately 1,300 square feet of living space, and a one-car garage. The proposed exit strategy for this loan is to refinance the subject property into a DSCR loan.
- Loan Amount: $350,000
- Date: May 2025