Borrower requested a $96,000 loan to purchase a 2.5 acre property that holds a double-wide manufactured home in Dade City, Florida. The borrower paid $160,000 for the property and has a $15,000 cosmetic renovation planned as the property is currently move in ready, needing only minor updates. The manufactured home has 3 bedrooms and 2 baths at 1,440 sq/ft. Borrower plans to lease the property to their construction workers and sell for a profit in 1-2 years.
Collateral:
Type: Fix and Lease
Description:
Borrower requested a $150,000 loan to purchase a manufactured property in Tampa, Florida. The manufactured home was built in 2017 and features 3 beds and 2 baths at 1,512 sq/ft sitting on a 1.24 acre lot. Borrower intends to refinance the loan.
- Loan Amount: $150,000
- Term: 1 Year
- Date: March 2023