Borrower requested a $100,000 loan, on a $179,900 purchase, pledging a fix and flip property in Tampa, Florida as collateral. The property is undergoing a cosmetic renovation, estimated around $26,000. The borrower’s occupation has been in construction management over the last 13 years, and has extensive fix and flip experience.
Collateral:
Type: New Construction
Description:
This loan totals $1,590,000, with $260,000 disbursed at closing, secured by a double-lot land asset located in Safety Harbor, Florida. The site consists of approximately 0.26 acres, and the borrower intends to subdivide the parcel and construct two new single-family homes. Each residence is planned as a two-story property featuring four bedrooms, four bathrooms, a two-car garage, and approximately 3,000 square feet of living space.
- Loan Amount: $1,590,000
- Date: February 2026
