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: Refinance
Description:
Borrower requested a $155,000 loan to refinance a single-family property in Tampa, Florida. The property features 2 beds and 1 bath at 1,108 sq/ft, and is tenant occupied. The borrower is using proceeds to complete a build at a different location and will sell the other investment property to exit the loan.
- Loan Amount: $155,000
- Date: July 2024