Asset Based Lending recently funded a hard fix and flip loan in Easton Pennsylvania. The borrower is a fourth time repeat borrower and an experienced real estate investor. The property was a 2-unit multi-family measured at 1,938 square feet total. The property was purchased for $135,000 with a renovation budget of $87,500 and a total loan cost at 89%. Borrower plans on holding the property as an income-producing asset with ABL’s rental refinance program. Renovation of the exterior will include a new roof, new paint, and upgraded electrical and materials. The interior will receive a full remodel in the kitchen and bathroom, with new doors and paint interior. Project is expected to take three to four months.
