This is a $67,000 loan request at 50% LTV to acquire a raw land parcel in Kissimmee, FL. Approved architectural plans detailing a custom-built duplex to be constructed on the parcel have been provided. Each duplex unit will consist of two stories, 1,505 square feet of living space, a three-bedroom, two-and-a-half-bathroom layout, and a private garage. The borrower is well-positioned to successfully execute and exit this project through a refinance.
Collateral:
Type: New Construction
Description:
This is a $255,000 new construction loan request for a duplex located in Lake Wales, FL. The proposed duplex will consist of two units, each featuring three bedrooms, two bathrooms, and approximately 1,005 square feet of living space, totaling six bedrooms, four bathrooms, and 2,010 square feet of combined living space. Borrower’s refinancing strategy is designed to manage debt and cash flow based on rental income.
- Loan Amount: $255,000
- Date: June 2025
