Borrower is an experienced wholesaler and real estate investor who requested a $200,000 loan to purchase a portfolio of 8 manufactured mobile homes in Summerfield Florida. The portfolio was contracted at $300,000. The 8 units are currently occupied and renting for a combined $5,275/month.
Collateral:
Type: New Construction
Description:
This is a $380,000 new construction loan request for a single-family property located in St. Augustine, FL. The home will feature 3 bedrooms, 2.5 bathrooms, and an office that can serve as an additional bedroom, with a total of 2,256 square feet of living space. The borrower will refinance the subject property if the builds and the sales take longer than anticipated.
- Loan Amount: $380,000
- Date: December 2024
