Asset Based Lending recently funded a fix and flip loan for a repeat borrower and experienced real estate investor in Jacksonville Florida. This single-family fix and flip project will consist of heavy renovation to the interior and exterior of the property with a new roof being installed as well as new windows throughout. For the interior, all existing bathrooms will be completely renovated. The den area will be converted into a bathroom, bringing this property from two to three bathrooms in total. The kitchen will be gutted and widened to create an open concept kitchen and living space. New hardwood floors will be installed throughout, and the borrower plans to paint the entirety of the home. This project is expected to take approximately three months at which time the borrower will refinance into a DSCR loan and hold it in their portfolio as a rental.
