Borrower requested a $243,000 loan to purchase a single-family property in Tampa, Florida. The borrower paid $305,000 for the property and has a $60,000 construction budget planned. DKC Lending will hold back $30,000 in a construction draw schedule. Borrower plans to Airbnb this property after the renovation and refinance as an exit to the loan.
Borrower requested a $150,000 loan to refinance a single-family property in St. Pete Beach, Florida. The borrower purchased the property in 2017 for $1,181,000. The property features 3 beds and 3 baths at 2,501 sq/ft. Borrower plans to sell the property in the next 3-6 months as an exit to the loan.