Asset Based Lending recently funded a fix and flip loan for a repeat borrower in Sumter, South Carolina. The property was purchased for $85,000 with a renovation budget of $100,000 and a loan amount of $151,000. The scope of work for this single-family home encompasses both exterior and interior upgrades to enhance the house’s appeal and functionality. Externally, the roof will undergo minor repairs, the façade will be power washed and painted, windows and doors will be replaced, and landscaping will be refreshed with cleaning and flower additions. Internally, the kitchen will receive shaker cabinets and granite countertops, bathrooms will get new vanities and fixtures, and flooring will be upgraded with sanding of existing hardwood and addition of luxury vinyl plank. The entire project is estimated to take 6-8 months to complete.
