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: Fix and Lease
Description:
Borrower requested a $150,000 loan to purchase a manufactured property in Tampa, Florida. The manufactured home was built in 2017 and features 3 beds and 2 baths at 1,512 sq/ft sitting on a 1.24 acre lot. Borrower intends to refinance the loan.
- Loan Amount: $150,000
- Term: 1 Year
- Date: March 2023