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: Fix and Lease
Description:
Borrower requested a $650,000 loan to purchase a single-family property in Tarpon Springs, Florida. The property being purchased features 2 beds and 2 baths at 2,188 sq/ft with a pool. The borrower is cross collateralizing another property in pristine condition, featuring 4 beds and 5 baths in 3,849 sq/ft with a pool. The borrower will be selling the property as an exit from the loan.
- Loan Amount: $650,000
- Date: March 2025
