Borrower requested a $135,000 loan to purchase a single-family property (including an additional empty lot) in Spring Hill, Florida. The borrower paid $193,000 for the property and has a $57,000 construction budget planned, which includes adding a new manufactured home on the vacant lot. The property features 3 beds and 1 bath at 906 sq/ft. Borrower will be performing all of the renovations himself and plans to sell the property once the renovations are completed as an exit to the loan.
Collateral:
Type: Fix & Flip
Description:
The borrower requested a $130,000 fix-and-flip loan secured by a single-family home in Pensacola, FL. The property currently features 3 bedrooms, 2 bathrooms, and 1,328 square feet of living space on a 1-acre lot. The borrower is also collateralizing a separate, free-and-clear single-family home. This property, built in 1992, sits on 0.42 acres and includes 3 bedrooms, 2 bathrooms, and 1,431 square feet of living space. The borrower’s exit strategy is to sell the property.
- Loan Amount: $130,000
- Date: May 2026
