Borrower requested a $240,000 loan to refinance a single family fix and flip property in Rockledge, FL. The borrower paid $211,000 for the property and has completed 80% of a $120,000 total construction budget. DKC will hold $20,000 back until construction is completed. The property features 4 beds and 3 baths at a total 2,077 sq/ft. Additionally the borrower is pleding a vacant piece of land currently owned. Borrower plans to finish the rehab and then sell the property after the renovation.
Collateral:
Type: Fix and Lease
Description:
This is a $5,350,000 loan request secured by two luxury single-family residences in Belleair, Florida; one commercial warehouse in Clearwater, Florida. The property is a luxury waterfront estate built in 2007 featuring 4 bedrooms, 6 bathrooms, a 3-car garage, and approximately 8,068 square feet of living area. The anticipated exit strategy for the loan includes the future sale of the borrower’s current primary residence.
- Loan Amount: $5,350,000
- Date: May 2026
