Borrower requested a $161,000 loan to purchase a single-family fix and flip property in Gulfport, Florida. Borrower paid $229,000 for the property and has a $49,000 construction budget planned. The construction will be funded out of the borrowers pocket, and will include a full cosmetic renovation. The property has an ARV around $305,000-$330,000.
Collateral:
Type: New Construction
Description:
This is a $480,000 new construction loan request, with $200,000 funded at closing, secured by a non-waterfront single-family-zoned lot in Redington Shores, Florida. The project will consist of a three-story, coastal-style home featuring three bedrooms, three bathrooms, approximately 2,072 heated square feet, and a two-car garage. The primary exit strategy is a retail sale.
- Loan Amount: $480,000
- Date: February 2026
