Borrower requested a $60,000 loan to purchase a single-family, fix and flip property in Daytona Beach, Florida. The borrower paid $85,000 for the property and has a full remodel planned with a construction budget of $40,000, including a new roof, ac, and full cosmetics. The property currently features 1 bed and 1 bath at 704 sq/ft and has an estimated ARV of $170,000-$180,000 after adding a second bedroom.
Collateral:
Type: New Construction
Description:
This is a $260,000 new construction loan request on a duplex located in Port Charlotte, FL, with an initial disbursement of $60,000 at closing. Upon completion, the property will consist of two units, each featuring 3 bedrooms, 2 bathrooms, 1,247 square feet of living space, and a 1-car garage. The borrower intends to refinance the property as the primary exit strategy.
- Loan Amount: $260,000
- Date: August 2025
