Borrower requested a $155,000 loan to purchase a single-family, fix and flip property in Tampa, Florida. The borrower paid $221,111 for the property and has a $30,000 construction budget planned. The borrower plans to list the property for $325,000 after the renovation and sell as an exit to the loan.
Collateral:
Type: New Construction
Description:
This is a $150,000 new construction loan request for a single-family residence in Port Charlotte, FL. The home will offer three bedrooms, two bathrooms, 1,342 square feet of living space, and a one-car garage upon completion. The borrower exit strategy for this loan is to refinance upon completion.
- Loan Amount: $150,000
- Date: April 2025