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 $260,000 new construction loan request on a duplex located in Port Charlotte, FL, with an initial disbursement of $60,000 at closing. Upon completion, the property will consist of two units, each featuring 3 bedrooms, 2 bathrooms, 1,247 square feet of living space, and a 1-car garage. The borrower intends to refinance the property as the primary exit strategy.
- Loan Amount: $260,000
- Date: August 2025