Borrower requested a $91,000 fix and flip loan to purchase a $130,000 single family property in Panama City, Florida. Borrower intends to complete a $35,000 remodel with their own capital before aiming to sell for a profit. Renovations are primarily cosmetic, there was a permitted roof repair from the hurricane in 2019. The borrower is a licensed real estate broker, and has completed multiple recent projects within Panama City.
Collateral:
Type: Refinance
Description:
This is a $100,000 refinance loan request at 50% loan-to-value (LTV), secured by a Lake Worth, Florida condominium unit. The property has two bedrooms, two and a half bathrooms, and approximately 1,500 square feet of living space. Borrower plans to complete the renovation and exit the loan through a conventional property sale.
- Loan Amount: $100,000
- Date: June 2025