Borrower requested a $95,000 loan to purchase a manufactured home in Gibsonton, Florida. The borrower paid $145,000 for the property and has a $20,500 construction budget planned, primarily cosmetic. The property features 3 beds and 3 baths at 1,428 sq/ft. Borrower has plans to sell this property for a profit as an exit to the loan.
Collateral:
Type: Fix and Flip
Description:
This is a $305,000 acquisition (land) loan secured by a tear-down single- family property located in Clearwater Beach, Florida. The subject property sits on a 0.16-acre lot (7,083 square feet) in a flood zone. The primary exit strategy for this loan is to build and sell a new construciton property.
- Loan Amount: $305,000
- Date: January 2026
