Borrower requested a $40,000 loan for an investment property purchase in Palm River Florida and will be pledging the property as collateral. The property will undergo an extensive remodel, featuring an addition of a bedroom and square footage along with a full cosmetic improvement. The borrower will be putting 60% down at the acquisition, in addition to the capital improvements which will be paid for by the borrower in cash. Borrower is an experienced construction manager and will be performing a majority of the work himself.
Type: Fix and Lease
Borrower requested a $117,000 loan to purchase a single-family property in Fort Myers, Florida. The borrower is paying $167,500 for the property that has suffered hurricane damage in 2022. The property features 3 beds and 2 baths at 1,448 sq/ft. Borrower plans to complete a $62,800 rehab budget out of pocket, before renting the property as an annual rental to refinance as an exit to the loan.