The Client

Inexperienced investors: husband and wife team
• Loan Purpose
Property Purchase & Rehabilitation
• Loan Structure
12 months maturity interest only

The Investment

Substantial, near gut, rehabilitation of a single family house
• Purchase Price
$165,000
• Renovation Budget
$80,000
• Loan Amount
$208,000
• Cash Available for Purchase
$128,000
• Cash Available for Renovation
$80,000

The ABL Partnership

Broker contacted ABL for a loan to inexperienced new investors who had a purchase contract, but a rehab budget that was too high. The Borrowers had strong income, reasonable credit, and substantial cash reserves.

The Results

ABL worked with the borrowers to reduce the cost of the anticipated renovation. The project proceeded without major difficulty, although the rehabilitation took longer than anticipated. The property was completed and listed after six months.

• After Repair Value
$330,000
• Sale Price
$349,000
• Project Payoff
6 months
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