Asset Based Lending recently funded a fix and flip loan for a first-time borrower in Goldsboro North Carolina. This real estate investor owns multiple rental properties and has been flipping homes for 30 years but took an extended break during COVID. Once they were ready to jump back into real estate investing, they contacted ABL for a single-family fix and flip loan to cover cosmetic renovations. The scope of work includes updating the plumbing throughout the home, the kitchen with wood cabinets and quartz countertops, and install new flooring. All bathrooms are being updated with new tile and paint, and the borrower is adding an additional bath to the main bedroom. This investor expects to complete work on this property within two months at which time they will list it for final sale.
