Very experienced borrower requested a $126,000 loan to purchase a single family fix
and flip property in Pinellas Park, FL. The property needs of a full $75,000 remodel, including a
new roof, AC, electrical, plumbing and full cosmetic updates.
Collateral:
Type: Refinance
Description:
Borrower is secured by four properties: a luxury condominium in Miami, FL; a single-family home in Roswell, GA; and two properties in Greenwood, SC—a commercial building and a single-family home. The borrower intends to refinance the loan using a DSCR (Debt Service Coverage Ratio) product.
- Loan Amount: $1,050,000
- Date: November 2024