Borrower requested a $25,000 loan to purchase a manufactured mobile home property in Port Richey, FL. The property is in a good condition, requiring a $10,000 cosmetic rehab, which the borrower will complete using personal capital and self performing a majority of the work. The collateral purchase price is $38,900, and the property rents at a conservative estimate of $950/month once renovated.
Type: Fix and Lease
Borrower requested a $117,000 loan to purchase a single-family property in Fort Myers, Florida. The borrower is paying $167,500 for the property that has suffered hurricane damage in 2022. The property features 3 beds and 2 baths at 1,448 sq/ft. Borrower plans to complete a $62,800 rehab budget out of pocket, before renting the property as an annual rental to refinance as an exit to the loan.