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 & Flip
Description:
Borrower requested a $142,000 loan to purchase a single-family property in Weeki Wachee, Florida. The property features 3 beds and 2 baths at 1,516 sq/ft sitting on a 8,800 sq/ft lot. Borrower plans to list the property for sale after the renovation as an exit to the loan.
- Loan Amount: $142,000
- Date: May 2023
