Borrower requested a $100,000 loan to purchase a single-family property in Fort Myers, Florida. The borrower sold $105,000 for the property and has a $60,000 construction budget planned. The property features 2 beds and I bath at 1,120 sq/ft. The borrower plans to add one extra bed and one extra bath in order to increase the profit of the project. Borrower plans to sell the property for a profit once the renovation is completed, ARV in the low $200’s.
Collateral:
Type: Refinance
Description:
The borrower is requesting a $200,000 loan secured by a 3/2 single-family home. The borrower’s exit strategy is to refinance into a DSCR loan once the property has established rental history.
- Loan Amount: $200,000
- Date: June 2026
