Borrower requested a $780,000 loan to purchase a multi-family property (5 units) in St. Pete Beach, Florida. The property features 5- one bedroom and one-bath units with a total of 2,526 sq/ft (2 structures). The borrower plans to list the property for nightly rentals and refinance as an exit to the loan.
Collateral:
Type: Refinance
Description:
Borrower requested a $155,000 loan to refinance a single-family property in Tampa, Florida. The property features 2 beds and 1 bath at 1,108 sq/ft, and is tenant occupied. The borrower is using proceeds to complete a build at a different location and will sell the other investment property to exit the loan.
- Loan Amount: $155,000
- Date: July 2024