Borrower requested a $138,600 fix and flip loan to purchase a $198,000 single family property in Panama City, Florida. Borrower intends to complete a $22,000 remodel before aiming to sell for a profit. Renovations are cosmetic, updating bathrooms, flooring, paint and kitchen. The borrower is a licensed real estate broker, and has completed multiple recent projects within Panama City.
Collateral:
Type: Refinance
Description:
Borrower requested a $200,000 refinance loan secured by a single-family residence in Tampa, Florida. Built in 1980, the property features 3 bedrooms, 2 bathrooms, and 1,562 square feet of living space situated on a 0.19-acre lot. Upon completion of the renovations, the borrower intends to refinance into a long-term DSCR loan as the exit strategy.
- Loan Amount: $200,000
- Date: August 2026
