Borrower requested a $236,000 loan to purchase a single-family property in Port Richey, Florida. The borrower is additionally pledging a single-family property as collateral to the loan. The Sterling property
features 2 beds and 2 baths at 1,190 sq/ft with a pool, and the second collateral located on Warbler Dr, features 2 beds and 2 baths at 1,310 sq/ft. The borrower plans to lease both properties long-term and then refinance as an exit to the loan.
Collateral:
Type: Fix and Flip
Description:
This is a $305,000 acquisition (land) loan secured by a tear-down single- family property located in Clearwater Beach, Florida. The subject property sits on a 0.16-acre lot (7,083 square feet) in a flood zone. The primary exit strategy for this loan is to build and sell a new construciton property.
- Loan Amount: $305,000
- Date: January 2026
