Borrower requested a $120,000 loan to refinance a single-family property in Tampa, Florida. The borrower purchased the property in 2017 and is in the process of completing a renovation. The property features 3 beds and 2 baths at 1,200 sq/ft. Borrower plans to lease the property as an annual rental after the renovation and 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
