Borrower requested a $307,500 loan to purchase a fix and flip, single-family property in St. Petersburg Fl. Borrower plans to perform an extensive renovation, updating the 4 points while executing a full cosmetic upgrade. Borrower plans to sell the property for a profit after the renovation is complete.
Collateral:
Type: New Construction
Description:
This loan totals $1,590,000, with $260,000 disbursed at closing, secured by a double-lot land asset located in Safety Harbor, Florida. The site consists of approximately 0.26 acres, and the borrower intends to subdivide the parcel and construct two new single-family homes. Each residence is planned as a two-story property featuring four bedrooms, four bathrooms, a two-car garage, and approximately 3,000 square feet of living space.
- Loan Amount: $1,590,000
- Date: February 2026
