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: Refinance
Description:
This is a $100,000 refinance loan request at 50% loan-to-value (LTV), secured by a Lake Worth, Florida condominium unit. The property has two bedrooms, two and a half bathrooms, and approximately 1,500 square feet of living space. Borrower plans to complete the renovation and exit the loan through a conventional property sale.
- Loan Amount: $100,000
- Date: June 2025