Borrower has requested a $76,000 loan to refinance two single-family, investment properties in Tampa, Florida. Both properties have been renovated and are leased on annual rentals for a combined $3,650/ month. Borrower is using the loan proceeds to purchase another investment property.
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