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.
Borrower requested a $150,000 loan to refinance a single-family property in St. Pete Beach, Florida. The borrower purchased the property in 2017 for $1,181,000. The property features 3 beds and 3 baths at 2,501 sq/ft. Borrower plans to sell the property in the next 3-6 months as an exit to the loan.