Asset Based Lending recently funded a fix and flip home in Elmhurst, Illinois with a first-time borrower and an experienced real estate investor. The single-family home was purchased for $500,000 with a loan amount of $575,000 and a renovation budget of $150,000. This 2,362 square foot property is a 4 bedroom and 3.5 bathroom. Renovation includes a re-paint throughout, trim updates, door hardware and handles black. The kitchen will be relocated to be in between the dining room and living room to be a more open concept. The kitchen will have shaker cabinets, quartz counters, subway tile backsplash, stainless steel appliances with hood-gold accents and pan lights. The floors will be hardwood under carpets, and new tiles in wet areas. A couple of walls will be removed to make the property an open concept. The borrower plans to sell at the end of a 4–5-month rehabilitation
