Borrower requested a $150,000 fix and flip loan to purchase a single family property in Lynn Haven, Florida. Borrower purchased the property for $200,000 and intends to complete a $30,000 remodel with their own capital before selling for a profit. Renovations are primarily cosmetic, completing drywall, updating bathrooms, kitchen, flooring, paint and finishes. Property features 3 beds, 2 baths at 1646 sq/ft and has an estimated ARV between $325k-$350k.
Collateral:
Type: New Construction
Description:
This loan totals $1,590,000, with $260,000 disbursed at closing, secured by a double-lot land asset located in Safety Harbor, Florida. The site consists of approximately 0.26 acres, and the borrower intends to subdivide the parcel and construct two new single-family homes. Each residence is planned as a two-story property featuring four bedrooms, four bathrooms, a two-car garage, and approximately 3,000 square feet of living space.
- Loan Amount: $1,590,000
- Date: February 2026
