Borrower requested a $161,000 loan to purchase a single-family fix and flip property in Gulfport, Florida. Borrower paid $229,000 for the property and has a $49,000 construction budget planned. The construction will be funded out of the borrowers pocket, and will include a full cosmetic renovation. The property has an ARV around $305,000-$330,000.
Collateral:
Type: Refinance
Description:
Borrower requested a $150,000 loan to refinance a single-family property in Odessa, Florida. The property features 4 beds and 4 baths at 4,285 sq/ft. Borrower plans to use the proceeds of this loan to pay off debt and plans to list the property for sale as an exit to this loan.
- Loan Amount: $150,000
- Date: March 2024