The borrower requested a $125,000 loan to purchase a condo property in Clearwater, Florida. The borrower is plans to update the bathrooms and kitchen before listing to rent. The property features 2 beds and 2 baths at 1,050 sq/ft. The borrower plans to refinance 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
