Asset Based Lending recently funded a hard money new construction loan in Jonesboro Georgia. The borrower is a first-time borrower and full-time real estate investor. The property was purchased for $65,000 with a construction budget of $290,000 and total loan funded at 90%. The proposed build is for a single-family 3-bedroom, 3.5-bathroom measured at 3,527 square feet. Highlights will include mid to high-level finishes, block and stucco facade, cement tile roof, vinyl impact windows, hardwood floors throughout with carpet in bedrooms, and solid wood interior doors. The kitchen will feature an island with granite counters and Frigidaire appliances while the master bathroom features two separate vanities, stand alone tub, and enclosed shower. Construction is expected to take between six and nine months with final sale occurring shortly after completion.
