The collateral property is a single-family rental (SFR) investment located in Palm Bay, Florida. The borrower plans to use the funds to purchase this property, which will be rented out. The borrower intends to repay the mortgage either through refinancing with traditional financing or by selling another investment property. The collateral for this loan includes a recorded 1st Mortgage, Collateral Assignment of Rents and Leases, and a UCC-1 Financing Statement on the Mortgage. The borrower, an entrepreneur who owns a cleaning business, is expanding their real estate investment portfolio with this acquisition.
