Borrower requested a $147,000 loan to purchase a duplex property in Bradenton, Florida. The borrower paid $195,000 and has a $25,000 cosmetic construction budget planned. Borrower owns a construction company and plan to self fund and perform the renovation. The property features 2 units each with 1 bed and 1 bath at 784 sq/ft each. Borrower plans to rent the property post renovation and exit the loan with a long term debt refinance.
Collateral:
Type: Fix and Lease
Description:
This financing opportunity involves a $2.5 million lending request structured as two interest-only mortgages with a 2-year term and 12% fixed interest. The transaction includes a commercial acquisition loan supported by multiple commercial real estate assets, along with a separate residential refinance, resulting in a conservative overall loan-to-value ratio backed by substantial collateral. The primary exit strategy is to refinance the commercial property.
- Loan Amount: $2,500,000
- Date: July 2026
