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.
- Operating vacation rental used as extra collateral
- 65% LTV
- 6 months of interest reserve
- Experienced Operator