Borrower requested a $108,000 loan to purchase a duplex property in Auburndale, Florida. The borrower paid $145,000 for the property and has a $21,000 construction budget planned. The property features 2 units each with 1 bed and 1 bath at 540 sq/ft. Borrower plans to complete the renovation and then sell the property once completed.
Collateral:
Type: Fix and Lease
Description:
This request is for a $160,000 refinance loan , secured by a quadplex located in Lakeland, FL. The property, built in 1954, consists of four 2-bedroom, 1-bathroom units, each approximately 600 sq. ft., totaling 2,400 sq. ft. of heated living area, with four separate electrical meters and individual water connections. Borrower preferred exit strategy is to refinance.
- Loan Amount: $160,000
- Date: December 2025
