Borrower requested a $140,000 loan to purchase a single-family, fix and flip property in Orlando, Florida. The borrower paid $185,000 for the property and has a full remodel planned with a construction budget of $40,000 including a new roof, ac and full cosmetic updates. The property features 3 beds and 2 baths at 1,092 sq/ft and has an estimated ARV of $250,000+.
Collateral:
Type: New Construction
Description:
This is a new construction loan for a single-family residence to be developed in Plant City, Florida. The proposed structure will feature six bedrooms, six bathrooms, and a two-car garage, totaling approximately 3,664 square feet. The primary exit strategy is to sell the completed property.
- Loan Amount: $460,000
- Date: April 2025
