This is a $150,000 new construction loan request for a single-family waterfront property in Hernando Beach, FL. Upon completion, the property will feature two bedrooms, two bathrooms, and 1,231 square feet of living space across two stories. It is hurricane-resistant, elevated on concrete pillars 10 feet above sea level, with the first floor 22 feet above sea level. The borrower, plans to list the completed property as his exit strategy for the loan.
Collateral:
Type: Fix & Flip
Description:
Borrower requested a $92,000 loan to purchase and flip a single-family property in Pensacola, Florida. The property features 2 beds and 1 baths at 1,187 sq/ft. The borrower plans to list the property for sale as an exit to the loan.
- Loan Amount: $92,000
- Date: February 2025