Borrower requested a $50,000 loan to purchase a fix and lease, single-family property in Jacksonville, Florida. The borrower paid $35,000 for the property and has a $60,000 construction budget planned, DKC will provide a construction holdback. The property features 2 beds and 1 bath at 1,080 sq/ft. ARV estimated around $120,000. 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 $130,000 loan to refinance a single-family property in Clearwater, Florida. The property features 3 beds and 2 baths at 1,858 sq/ft. The borrower has the property listed for sale and will sell the property as an exit to the loan.
- Loan Amount: $130,000
- Date: April 2024
