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: New Construction
Description:
This is a $200,000 new construction loan request for a single-family home located in Fort Myers, FL. Upon completion, the property will comprise two separate structures: the main residence, which features seven bedrooms and six bathrooms across 1,837 heated square feet, and a 550-square-foot studio suite, totaling 2,387 square feet of heated living area. Borrower exit strategy for this particular property is a long-term hold, with plans to refinance using a debt-service coverage ratio (DSCR) loan.
- Loan Amount: $200,000
- Date: June 2025