WLW provided a commercial Fix and Flip, construction loan to an experienced borrower in Tampa, Fl. WLW structured the construction loan in a 2 draw schedule, extending $55,000 on the first draw (57% LTV), requiring roofing, framing/drywall and all M.E.P’s (Mechanical, electrical, plumbing) to be completed per city inspections. Borrower plans to do extensive renovations including adding a bed and bathroom to the home, adding value before selling the property.
Loan Amount: $95,000
Loan To Value: 70%
Term: 18 Months
Type: Fix and Flip, Construction Loan