Asset Based Lending recently funded a New Construction deal in Dallas, Texas with a repeat borrower and experienced real estate investor. This property was purchased for $90,000 with a loan amount of $373,000 and a construction budget of $271,250. This 2,318 square foot property will have an open family/kitchen/dining concept, a large porch, master bedroom with ensuite and 2 bedrooms with a sharing bathroom. With high end finishes, hardwood floors, and crown moldings, the borrower plans for a five month timeline and won’t market the home until its being painted.
