Borrower requested a $66,500 fix and flip loan to purchase a $95,000 single-family property in Tampa, Florida. Borrower is completing a $35,000 remodel with their own capital before aiming to sell for a profit. Renovations will include a new roof, HVAC, and a cosmetic remodel. There is additionally an unpermitted ensuite in the rear of the property. The borrower intends to permit the addition, and increase the living square footage and an additional bed and bathroom.
Collateral:
Type: New Construction
Description:
The borrower requested a new construction loan for a waterfront luxury single-family residence in Tampa, FL. The residence will feature 6 bedrooms, 7 bathrooms, 3 powder rooms, a 4-car garage, and 10,882 heated square feet. The planned amenities include a home theater, a golf simulator, a speakeasy bar with hidden doors, an elevator, a full gym with a recovery room and sauna, and a dedicated entertainment room for children. The exterior will feature a full outdoor kitchen, pool and spa, a covered cabana with an entertainment area, and a comprehensive dock with multiple boat slips, lifts, and a jet ski dock. Borrower’s primary exit strategy is to sell a property.
- Loan Amount: $6,850,000
- Date: November 2025
