Borrower requested a $420,000 loan to purchase two adjacent duplexes in Clearwater, Florida. The borrower paid $600,000 for both properties and has a $57,500 total construction budget planned. Both properties feature a combined 8 beds and 4 baths at a total 2,784 sq/ft. The property currently has a units rented for a combined $3,200/month. Borrower plans to rehab the property and lease the property as an annual rental after the renovation and refinance as an exit to the loan
Collateral:
Type: Refinance
Description:
Borrower requested a $200,000 refinance loan secured by a single-family residence in Tampa, Florida. Built in 1980, the property features 3 bedrooms, 2 bathrooms, and 1,562 square feet of living space situated on a 0.19-acre lot. Upon completion of the renovations, the borrower intends to refinance into a long-term DSCR loan as the exit strategy.
- Loan Amount: $200,000
- Date: August 2026
