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.
Borrower requested a $150,000 loan to refinance a single-family property in St. Pete Beach, Florida. The borrower purchased the property in 2017 for $1,181,000. The property features 3 beds and 3 baths at 2,501 sq/ft. Borrower plans to sell the property in the next 3-6 months as an exit to the loan.