Asset Based Lending recently funded this fix and flip loan in Bay Minette, Alabama with a repeat borrower and experienced real estate investor. This single-family property was purchased for $117,500 with a construction escrow of $69,115 and a loan amount of $149,000. The scope of work for this project includes a new roof, door touch up, and landscape clean-up for the exterior. The interior will have new kitchen cabinets, countertops, backsplash, and stainless-steel appliances. The bathroom will receive new vanities and toilets. The borrower expects a 6–9-month timeline and an exit strategy to sell.
