The borrower, an experienced investor, is leveraging equity in two existing free-and-clear properties, a recently acquired Florida condo and a long-held North Carolina mountain estate, to fund the time-sensitive acquisition of a Southwest Ranches residence. The borrower represents as a long-term, buy-and-hold owner as an exit to the loan.
Collateral:
Type: New Construction
Description:
Borrower has requested $125,000 to complete construction of a two-story, wood-frame duplex in Augusta, GA. Each unit of the duplex will offer 1,580 square feet of living space, with 794 square feet on the first floor and 786 square feet on the second. The borrower’s primary exit strategy is to sell the completed duplex.
- Loan Amount: $125,000
- Date: October 2026
