Rodeo Lending funded a cross-collateralized purchase loan on two West Palm Beach, FL properties. Our client, an experienced vacation rental operator, used their equity from a flourishing rental to help buy a single-family residence in West Palm Beach. Part of the loan proceeds was used to help our client rehab the new purchase to get the property ready for future rentals.
Deal Highlights:
- Operating vacation rental used as extra collateral
- 65% LTV
- 6 months of interest reserve
- Experienced Operator
