Asset Based Lending recently funded a fix and flip loan in Brandywine, Maryland with a repeat borrower and real estate investor. The property was purchased for $525,000 with a renovation budget of $57,500 and a loan amount of $445,000. The rehabilitation project focuses primarily on cosmetic enhancements without altering the layout or increasing square footage. Interior improvements will include cleaning carpets on the first two floors and rehabilitating the basement. The basement, currently bare to the studs, will undergo significant upgrades including drywall installation, addition of shaker style cabinets, recessed lighting, luxury vinyl plank (LVP) flooring, a laundry sink, bathroom tiling, fixtures, a single vanity, a stand-up shower, and baseboards & trim—all sourced from Mr. BEN and Home Depot, adhering to builder-grade standards. The exterior of the home will remain unchanged. The timeline of this project is anticipated to take three months.
