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: Refinance
Description:
Borrower requested a $130,000 loan to refinance a single-family property in Clearwater, Florida. The property features 3 beds and 2 baths at 1,858 sq/ft. The borrower has the property listed for sale and will sell the property as an exit to the loan.
- Loan Amount: $130,000
- Date: April 2024
