Borrower requested a $100,000 loan, on a $179,900 purchase, pledging a fix and flip property in Tampa, Florida as collateral. The property is undergoing a cosmetic renovation, estimated around $26,000. The borrower’s occupation has been in construction management over the last 13 years, and has extensive fix and flip experience.
Collateral:
Type: New Construction
Description:
This is a new construction loan for a single-family residence to be developed in Plant City, Florida. The proposed structure will feature six bedrooms, six bathrooms, and a two-car garage, totaling approximately 3,664 square feet. The primary exit strategy is to sell the completed property.
- Loan Amount: $460,000
- Date: April 2025
