Borrower requested a $190,000 loan to purchase a single-family property in Tampa, Florida, pledging an additional free and clear property as collateral for the loan. The borrower paid $150,000 for the property and has a $30,000 construction budget planned. Additionally, the 3308 River Grove property has an estimated value of $220,000. The property at 8901 N 20th St, features 2 beds and 1 bath at 1,178 sq/ft. Borrower plans to sell the property after the renovation as an exit to the loan.
Collateral:
Type: Fix and Lease
Description:
This request is for a $160,000 refinance loan , secured by a quadplex located in Lakeland, FL. The property, built in 1954, consists of four 2-bedroom, 1-bathroom units, each approximately 600 sq. ft., totaling 2,400 sq. ft. of heated living area, with four separate electrical meters and individual water connections. Borrower preferred exit strategy is to refinance.
- Loan Amount: $160,000
- Date: December 2025
