Borrower requested a $450,000 loan to build a single-family property in Tampa, Florida. The borrower paid $170,000 for the land and has a $540,000 construction budget planned. The construction plans have been approved by the city, and feature 4 beds and 3 baths at 3,854 sq/f (heated). Borrower owns for a construction company and will be performing the majority of the work himself, subbing out main trades.
Collateral:
Type: Fix and Flip
Description:
This is a $305,000 acquisition (land) loan secured by a tear-down single- family property located in Clearwater Beach, Florida. The subject property sits on a 0.16-acre lot (7,083 square feet) in a flood zone. The primary exit strategy for this loan is to build and sell a new construciton property.
- Loan Amount: $305,000
- Date: January 2026
