Asset Based Lending recently funded a hard money loan in Cape Coral FL for a cash out and new construction of two single-family homes. The funding was provided to a repeat borrower with a high level of experience developing and flipping houses. The land was purchased for $230,000 with a total construction budget of $698,000 with the total loan funded at nearly 80% LTC. The project consists of two nearly identical single-level homes that will be approximately 2,182 square feet and feature three bedrooms with three baths, with approximate ARVs of $685,000 and $688,000 respectively. The homes will be highlighted by high end finishes including custom cabinets, granite countertops, and large master suite. Each home will also feature a pool as well as private dock with canal access. ABL is happy to provide experienced investors with the most reliable hard money loans for new construction Florida has to offer.
