Borrower requested a $265,000 loan to purchase and remodel a triplex in Mulberry Florida, while additionally pledging a cash flowing single family rental property in Lakeland, Florida as collateral for the loan. The Triplex is being purchased for $190,000 and has a $50,000 remodel planned. The cash flowing lakeland property is rented for $2,500/month.
Collateral:
Type: Refinance
Description:
Borrower requested a $130,000 loan to refinance a single-family property in Clearwater, Florida. The property features 3 beds and 2 baths at 1,858 sq/ft. The borrower has the property listed for sale and will sell the property as an exit to the loan.
- Loan Amount: $130,000
- Date: April 2024
