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.
Collateral:
Type: New Construction
Description:
Borrower has requested $125,000 to complete construction of a two-story, wood-frame duplex in Augusta, GA. Each unit of the duplex will offer 1,580 square feet of living space, with 794 square feet on the first floor and 786 square feet on the second. The borrower’s primary exit strategy is to sell the completed duplex.
- Loan Amount: $125,000
- Date: October 2026