Borrower requested a $120,000 loan to purchase a fix and flip condominium in Bradenton, Florida. The borrower paid $150,000 for the property and has a $37,000 construction budget planned. Borrower plans to sell the property for an estimated ARV of $220,000-$240,000.
Collateral:
Type: New Construction
Description:
This is a $480,000 new construction loan request, with $200,000 funded at closing, secured by a non-waterfront single-family-zoned lot in Redington Shores, Florida. The project will consist of a three-story, coastal-style home featuring three bedrooms, three bathrooms, approximately 2,072 heated square feet, and a two-car garage. The primary exit strategy is a retail sale.
- Loan Amount: $480,000
- Date: February 2026
