Asset Based Lending recently funded a fix and flip loan for a first-time borrower in Canton Ohio. This single-family fix and flip loan was used for the borrower to receive cash out as well as funds to complete the rehab on this home. Prior to contacting ABL the borrower completed about $50k of work in the home including replacing the roof and the windows and some interior demo. The remainder of the project entails complete renovations of all bathrooms as well as the kitchen and finishing the attic to add new livable square footage. The existing wood floors in the home will be refinished and the interior and exterior will be updated with new paint. The borrower expects the balance of this renovation to be completed within 5 months, at which time the home will be listed the market for final sale.
