Borrower requested a $215,000 loan to purchase a single-family property in Tampa, Florida. Borrower paid $154,000 for the new property and has a $50,000 construction budget planned, while additionally pledging a cashflowing investment property that has 3 units for a combined rental of $3,250 / month as collateral to the loan.
Collateral:
Type: Fix and Lease
Description:
Borrower requested a $650,000 loan to purchase a single-family property in Tarpon Springs, Florida. The property being purchased features 2 beds and 2 baths at 2,188 sq/ft with a pool. The borrower is cross collateralizing another property in pristine condition, featuring 4 beds and 5 baths in 3,849 sq/ft with a pool. The borrower will be selling the property as an exit from the loan.
- Loan Amount: $650,000
- Date: March 2025