Borrower requested a $34,000 loan, to purchase a $58,000 fix and flip, manufactured mobile home in Lakeland, FL. The borrower is planning a $30,000 remodel which will include a new HVAC system, septic tank, exterior siding, and a complete cosmetic update of the home. The roof and foundation/subfloor are in good condition.
Collateral:
Type: Fix and Lease
Description:
Borrower requested a $650,000 loan to purchase a single-family property in Tarpon Springs, Florida. The property being purchased features 2 beds and 2 baths at 2,188 sq/ft with a pool. The borrower is cross collateralizing another property in pristine condition, featuring 4 beds and 5 baths in 3,849 sq/ft with a pool. The borrower will be selling the property as an exit from the loan.
- Loan Amount: $650,000
- Date: March 2025