Borrower requested a $108,750 loan to purchase, fix and flip a single family home in Tampa, Florida. The property was purchased for $145,000 and the borrower is completing a $30,000 remodel with their own cash out of pocket. The property had a roof replacement and plumbing updates in 2016, with a city permit. Borrower plans to complete the remodel and sell the home for a profit within 8 months. The borrower will be performing the remodel work as the contractor, and has a history of multiple successful projects purchased, remodeled and sold with DKC in the last 2 years.
Collateral:
Type: New Construction
Description:
This request is for a $260,000 new construction loan secured by two to-be-built single-family homes (to be built) and two additional neighboring subdivided lots pledged as collateral. The first will consist of three bedrooms, two bathrooms, approximately 1,704 square feet of living area, and a two-car garage. The second will include three bedrooms, 2.5 bathrooms, approximately 1,777 heated square feet, and a two-car garage. Borrower primary exit strategy is to sell the property after completion.
- Loan Amount: $260,000
- Date: March 2026
