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 requested a $300,000 loan to refinance the property located at Larry Rd, Spring Hill, FL. This property has 2 manufactured homes retired to the land. The borrower is pledging additional collateral located at 60th St, Tampa, FL. The borrower has proven liquidity and plans to repay this loan at maturity.
- Loan Amount: $300,000
- Date: March 2025