Borrower requested a $262,000 loan to purchase a fully occupied, 4 unit property featuring 2 duplex units in Ocala, Florida. The borrower paid $350,000 for the property and will be inheriting 4 leases for a combined $3,200/month. Each duplex unit features 2 bed and 1 bath, for a combined 1,516 sq/ft. Borrower plans to exit the loan with a bank refinance and hold the rentals long term.
Collateral:
Type: New Construction
Description:
Borrower has requested $125,000 to complete construction of a two-story, wood-frame duplex in Augusta, GA. Each unit of the duplex will offer 1,580 square feet of living space, with 794 square feet on the first floor and 786 square feet on the second. The borrower’s primary exit strategy is to sell the completed duplex.
- Loan Amount: $125,000
- Date: October 2026
