Asset Based Lending recently funded a hard money fix and flip property in Bethlehem, Pennsylvania with a repeat borrower and an experienced real estate investor. The property is a single-family home that was purchased for $221,550 with a loan amount of $239,000 and a construction budget of $60,000. The property is 2,282 square feet, with four bedrooms and two bathrooms. The scope of work for the exterior includes a power wash, scrape and paint house, backyard clean up, and four new exterior doors. The upstairs kitchen will be converted into a laundry room and the flooring will be refinished. The main kitchen will be gutted with new cabinets, counters, and Samsung appliances. The timeline of this project is 4-6 months and the investor plans to sell the property at the end of the 12-month loan.
