Borrower requested a $50,000 loan to purchase a fix and lease, single-family property in Jacksonville, Florida. The borrower paid $35,000 for the property and has a $60,000 construction budget planned, DKC will provide a construction holdback. The property features 2 beds and 1 bath at 1,080 sq/ft. ARV estimated around $120,000. Borrower plans to rehab the property and lease the property as an annual rental after the renovation and refinance as an exit to the loan.
Collateral:
Type: Fix and Lease
Description:
Borrower requested a $150,000 loan to purchase a manufactured property in Tampa, Florida. The manufactured home was built in 2017 and features 3 beds and 2 baths at 1,512 sq/ft sitting on a 1.24 acre lot. Borrower intends to refinance the loan.
- Loan Amount: $150,000
- Term: 1 Year
- Date: March 2023
