Borrower requested a $190,000 loan to purchase a single-family property in Tampa, Florida, pledging an additional free and clear property as collateral for the loan. The borrower paid $150,000 for the property and has a $30,000 construction budget planned. Additionally, the 3308 River Grove property has an estimated value of $220,000. The property at 8901 N 20th St, features 2 beds and 1 bath at 1,178 sq/ft. Borrower plans to sell the property after the renovation as an exit to the loan.
Collateral:
Type: Fix and Flip
Description:
This is a $305,000 acquisition (land) loan secured by a tear-down single- family property located in Clearwater Beach, Florida. The subject property sits on a 0.16-acre lot (7,083 square feet) in a flood zone. The primary exit strategy for this loan is to build and sell a new construciton property.
- Loan Amount: $305,000
- Date: January 2026
