Borrower requested a $350,000 loan to purchase a single family property in Riverview, Florida. The borrower paid $270,000 for the property and has a $80,000 construction budget planned, a full renovation and addition of 2 car garage with an estimated ARV of $430,000. Borrower additionally pleading a renovated, cash-flowing rental property as additional collateral for the loan.
Collateral:
Type: Refinance
Description:
Borrower requested a $85,000 loan to refinance a single-family fix and flip property in Sanford, Florida. The property will feature 3 bedrooms, 2 bathrooms, and 1,242 square feet of living space upon completion. The home sits on a desirable double lot totaling 0.48 acres and overlooks a pond. The borrower plans to list the property for sale after the renovation as an exit to the loan.
- Loan Amount: $85000
- Date: January 2025