The borrower requested a $712,500 loan to purchase a single-family investment property in Tierra Verde, Florida. The borrower paid $950,000 for the property and has a $75,000 construction budget planned which includes adding a bathroom and around 235sq/ft. The property currently features 3 beds, 2 baths and 2,343 sq/ft. Borrower is planning to exit the loan with a long term debt refinance.
Collateral:
Type: Fix and Lease
Description:
This request is for a $160,000 refinance loan , secured by a quadplex located in Lakeland, FL. The property, built in 1954, consists of four 2-bedroom, 1-bathroom units, each approximately 600 sq. ft., totaling 2,400 sq. ft. of heated living area, with four separate electrical meters and individual water connections. Borrower preferred exit strategy is to refinance.
- Loan Amount: $160,000
- Date: December 2025
