Borrower requested a $370,000 loan to purchase a single-family, fix and flip property in Ruskin, Florida. The borrower paid $300,000 for the property and has a $70,000 construction budget planned. The property features 4 beds and 3 baths at 2,766 sq/ft and the borrower additionally pledged a cashflowing single family rental in Tampa as collateral to the loan. Borrower plans to sell the property once completed with the rehab.
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
