The borrower requested a $250,000 loan to complete a new construction project in Saint Petersburg, Florida. The property will feature 3 beds and 2 baths at 1,500 sq/ft with a detached garage and ADU with 672 sq/ft and 1 bed 1 bath. The borrower plans to sell the property upon completion as an exit to the loan.
Collateral:
Type: Fix and Flip
Description:
This is a $305,000 acquisition (land) loan secured by a tear-down single- family property located in Clearwater Beach, Florida. The subject property sits on a 0.16-acre lot (7,083 square feet) in a flood zone. The primary exit strategy for this loan is to build and sell a new construciton property.
- Loan Amount: $305,000
- Date: January 2026
