Borrower requested a $100,000 loan to purchase a condominium in Tampa, Florida. The borrower is paying $175,000 for the property, which was recently renovated and is rent-ready. The property features 2 beds and 2.5 baths at 1,138 sq/ft. Borrower plans to lease the property as an annual rental and refinance as an exit to the loan.
Collateral:
Type: Refinance
Description:
The borrower has requested an $850,000 loan for a multifamily quadplex located in Tampa, Florida. The property consists of two detached buildings, offering three 1-bedroom, 1-bath units and one 2-bedroom, 1-bath unit totaling 1,596 sq. ft. One building features unregistered living space due to the conversion of a 2-car garage into a laundry room and additional living area. The borrower plans to refinance as an exit from the loan.
- Loan Amount: $850,000
- Date: October 2024