This is a $360,000 loan request secured by two single-family residential properties in Tampa, Florida, and St. Petersburg, Florida. The first property, is a 1,755-square-foot, three-bedroom, three-bathroom home built in 1951. The second property is a 994-square-foot, two-bedroom, one-bathroom home built in 1962. The borrower plans to renovate and sell both properties upon completion as an exit to the loan.
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
