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: New Construction
Description:
Borrower requested a $425,000 loan to begin construction on a single-family property in Lakeland, Florida. The property will feature 4 beds and 3 baths at 3,727 sq/ft. The target sale price for the completed property is estimated $1.1 million.
- Loan Amount: $425,000
- Date: September 2024