Borrower requested a $130,000 loan to purchase a single-family property fix and flip property in Tampa, Florida. The borrower paid $190,000 for the property and has a $45,000 cosmetic construction budget planned including a full kitchen and bathroom remodel. Age of the roof and AC are 2018. Borrower plans to list the property for sale with an estimated ARV around $300,000-$325,000.
Collateral:
Type: Refinance
Description:
This is a $100,000 refinance loan request at 50% loan-to-value (LTV), secured by a Lake Worth, Florida condominium unit. The property has two bedrooms, two and a half bathrooms, and approximately 1,500 square feet of living space. Borrower plans to complete the renovation and exit the loan through a conventional property sale.
- Loan Amount: $100,000
- Date: June 2025