Borrower requested a $500,000 loan to purchase a single-family, fix and flip property in Dunedin, Florida. The borrower paid $665,000 for the property and has an $80,000 construction budget planned. The renovation will include a roof and AC replacement with a complete cosmetic upgrade. The property features 3 beds and 2 baths at 1,796 sq/ft.
Collateral:
Type: Fix and Lease
Description:
Borrower requested a $650,000 loan to purchase a single-family property in Tarpon Springs, Florida. The property being purchased features 2 beds and 2 baths at 2,188 sq/ft with a pool. The borrower is cross collateralizing another property in pristine condition, featuring 4 beds and 5 baths in 3,849 sq/ft with a pool. The borrower will be selling the property as an exit from the loan.
- Loan Amount: $650,000
- Date: March 2025