New Loan Funded!

602 & 604 Channel Dr, Davis Island Fl 33606

Collateral:

602 & 604 Channel Dr, Davis Island Fl 33606

Description:

SALE DATE: 07/30/2021
MARKET: Davis Island, Tampa
ASSET TYPE: Development Site, Double Lot
BUYER/BORROWER: Starkus Development LLC
BROKERS: Kevin Lee & Daven Henry
DEVELOPER: LuCapital Management & Legion Construction

SALE PRICE: $1,600,000
ARV: 3,000,000 ea.

Collateral:

Type:

Description:

Borrower is requesting a $325,000 loan secured by a single-family property in Tampa, Florida. The property features 9 bedrooms, 5 bathrooms, 4,010 heated square feet, and sits on a 16,496-square-foot lot while being rented for $9,000 per month. The borrower plans to refinance the loan as exit strategy.

Collateral:

Description:

The borrower, an experienced investor, is leveraging equity in two existing free-and-clear properties, a recently acquired Florida condo and a long-held North Carolina mountain estate, to fund the time-sensitive acquisition of a Southwest Ranches residence. The borrower represents as a long-term, buy-and-hold owner as an exit to the loan.

Collateral:

Description:

Borrower has requested a $320,00 loan to purchase a single-family property in Ocala, Florida. The 1989-built single-family home features 3 bedrooms, 3 bathrooms, and approximately 3,032 square feet of living space. The borrower will refinance as an exit to the loan.