Borrower requested a $300,000 loan to refinance a single-family property in Ft Myers, Florida. The property was listed for sale for $865,000 before hurricane lan, since then the property experienced wind and flood damage in the storm and is in need of $200,000+ in remediation. The property features 4 beds and 3 baths at 2,846 sq/ft and was previously being operated as an Airbnb. Borrower plans to sell the property as an exit to the loan.
Collateral:
Type: Fix & Flip
Description:
The borrower requested a $130,000 fix-and-flip loan secured by a single-family home in Pensacola, FL. The property currently features 3 bedrooms, 2 bathrooms, and 1,328 square feet of living space on a 1-acre lot. The borrower is also collateralizing a separate, free-and-clear single-family home. This property, built in 1992, sits on 0.42 acres and includes 3 bedrooms, 2 bathrooms, and 1,431 square feet of living space. The borrower’s exit strategy is to sell the property.
- Loan Amount: $130,000
- Date: May 2026
