The Client

Experienced Contractor
• Loan Purpose
Fix And Flip Loan
• Loan Structure
12 Months Interest Only
• Loan Used

The Investment

Gut Renovation - Single Family
• Purchase Price
$200,000
• Renovation Budget
$40,000
• Loan Amount
$200,000
• Cash Available for Purchase
$160,000
• Cash Available for Renovation
$40,000

The ABL Partnership

Asset Based Lending recently financed a hard money loan for a fix and flip project in Naples, Florida. The borrower is an experienced general contractor with experience flipping land parcels and renovating homes for clients. The subject property is a single-family 3 bed / 2 bath with a detached garage that has been partially converted. The work that was completed was permitted, and the investor needs another $40,000 to finish the renovation by adding two bedrooms and air-conditioning. The main building is approximately 1340 sqft and the detached “inlaw suite“ is approximately 700 sqft.

The Results

• After Repair Value
$359,000
• Sale Price
• Return on Investment
• Project Payoff
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