The Client

Experienced Investor, Builder, Realtor
• Loan Purpose
Land Purchase And New Construction
• Loan Structure
12 Months Interest Only

The Investment

New Construction - Single Family
• Purchase Price
$387,500
• Renovation Budget
$450,000 (Construction)
• Loan Amount
$647,000
• Cash Available for Purchase
$197,000
• Cash Available for Renovation
$450,000 (Construction)

The ABL Partnership

Asset Based Lending was happy to have this husband and wife team of repeat borrowers back for another new construction project in Fairfield, Connecticut. ABL funded a hard money loan for the tear down and new construction of a 5 bed / 4.5 bath 4,200 sqft single family home. This is the 4th house on the same block for this realtor and builder husband/wife team, so they’re intimately familiar with the market and the demands for the area. The finished home will sit on an 1/2 acre lot, include a full 9 foot unfinished basement, 9 foot high ceilings, an open floor plans, and high end finishes throughout.

The Results

• After Repair Value
$1,045,000
• Sale Price
$1,100,000 (Listed)
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