Asset Based Lending recently funded a hard money new construction loan in Alpharetta Georgia. The borrower is a repeat borrower and experienced real estate investor. The property was purchased for $550,000 with a construction budget of $1,200,000 and total loan funded at 90%. The proposed build is for three identical single-family homes that are each 4-bedroom, 3-bathroom measured at 2,200 square feet. Highlights will include high-end finishes, hardy plank facade, vinyl double-hung windows, hardwood and carpeted floors, crown molding, and hollow-core interior doors. Kitchens will feature quartz countertops, MDF cabinets, and high-end stainless steel appliances. Bathrooms will feature wall tile and quartz vanities. Construction is expected to take between six and nine months with final sale occurring shortly after completion.
