This is a $100,000 loan request to acquire a single-family tear-down property in Tampa, FL. The existing structure is a two-bedroom, one-bathroom single-family home built in 1948, which is slated for demolition. The lot is zoned RS50 and measures 50 x 95 and 4,750 square feet. The borrower plans to sell the completed single-family home once construction is finished as an exit strategy for the loan.
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
