Borrower requested a $40,000 loan for an investment property purchase in Palm River Florida and will be pledging the property as collateral. The property will undergo an extensive remodel, featuring an addition of a bedroom and square footage along with a full cosmetic improvement. The borrower will be putting 60% down at the acquisition, in addition to the capital improvements which will be paid for by the borrower in cash. Borrower is an experienced construction manager and will be performing a majority of the work himself.
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
