Borrower requested a $40,000 loan to purchase a single-family property in Tallahassee, Florida. The property features 3 beds and 2 baths at 940 sq/ft sitting on a 5,227 sq/ft lot. The borrower plans to list the property for sale after the renovation is complete as an exit to this 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
