The Client

Experienced Investor
• Loan Purpose
Property Purchase Only
• Loan Structure
12 Months Interest Only

The Investment

Cosmetic Rehab To Rental Property
• Purchase Price
$575,000
• Renovation Budget
$20,000
• Loan Amount
$375,000
• Cash Available for Purchase
$375,000
• Cash Available for Renovation

The ABL Partnership

Asset Based Lending recently financed a hard money loan for the purchase of a single family home in Suffolk County, NY. The borrower is an experienced real estate investor that is buying the subject property out of foreclosure in need of only minor cosmetic updates. After using ABL for a quick-close on the purchase, the investor plans to keep the property for rental income by refinancing into a longer term rental loan.

The Results

• After Repair Value
$575,000 (As-Is)
• Sale Price
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