Borrower requested a $94,500 loan to purchase a fix and flip single family property in Gulfport, Florida. The property was purchased for $134,990 and the borrower plans to self perform and fund a full renovation estimated around $40,000. The property has had a new roof replacement in 2020.
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