Borrower requested a $365,000 loan to purchase a manufactured mobile home property on 2.44 acres in Hudson, Florida. The borrower paid $190,000 for the property and plans to add 1,800 sq/ft to the existing garage while renovating and renting out the mobile home. Additionally, the borrower is pledging a recently renovated, vacant property that was initially going to be flipped. The property is currently appraised for $335,000.
Collateral:
Type: Refinance
Description:
The borrower has requested an $850,000 loan for a multifamily quadplex located in Tampa, Florida. The property consists of two detached buildings, offering three 1-bedroom, 1-bath units and one 2-bedroom, 1-bath unit totaling 1,596 sq. ft. One building features unregistered living space due to the conversion of a 2-car garage into a laundry room and additional living area. The borrower plans to refinance as an exit from the loan.
- Loan Amount: $850,000
- Date: October 2024