Borrower requested a $153,000 loan to purchase a triplex property in Winter Haven, Florida. The borrower paid $205,000 for the property and will be performing minor cosmetic repairs. The property features 2,1 bed l bath units, and 1, 2 bed l bath unit, at a combined 1,584 sq/ft. Borrower plans to exit the loan with a bank refinance and hold the property as a long term rental.
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
