Borrower requested a $4,800,000 loan to refinance a single-family property in Indian Creek, Florida (Billionaires Bunker). The property features 10 beds and 8 baths at 20,296 sq/ft sitting on a 1.82 acre lot. The borrower plans to liquidate a portion of their real estate portfolio to satisfy this mortgage.
Collateral:
Type: Refinance
Description:
The borrower has requested a $168,000 loan to refinance a single-family property in Orlando, Florida, owned free and clear. This 950 sq. ft. property features 3 bedrooms, 1 bathroom, and a carport. The capital from this refinance will be used to purchase and rehabilitate another investment property, further expanding the borrower’s portfolio. The borrower plans to exit the loan through a DSCR refinance.
- Loan Amount: $168,000
- Date: October 2024