An experienced investor requested a fix and flip loan on a single-family property in Panama City, Florida. The property suffered damage in the previous hurricane and is in need of a complete renovation including a new roof, AC, and full cosmetics. Borrower plans to spend $107,000 on construction, and DKC Lending will provide a draw schedule. Property is in an upcoming area of Panama City with an anticipated ARV of around $250,000.
Collateral:
Type: Fix & Flip
Description:
The borrower requested a $238,000 loan for a single-family residence in Tampa, Florida. The property features a 2 bedroom, 1.5-bathroom home totalling 1,800 square feet with a one-car garage built in 1921. The borrowers are financially positioned to refinance the property if it does not sell at their projected price point of $600,000 or higher.
- Loan Amount: $238,000
- Date: January 2025