The Client

First Time Borrower, Experienced Investor
• Loan Purpose
Property Purchase Only
• Loan Structure
12 Months Interest Only

The Investment

Purchase Only - Mixed Use
• Purchase Price
$1,800,000
• Renovation Budget
$0
• Loan Amount
$1,530,000
• Cash Available for Purchase
$1,530,000
• Cash Available for Renovation
$0

The ABL Partnership

Asset Based Lending recently funded a property purchase only hard money loan in Keene NH. The borrower is a first-time borrower and experienced real estate investor. The property was purchased for $1,800,000 with total loan funded at 85% LTC. The borrower plans to keep the property as an income-producing asset once stabilized. The property is a mixed-use building that holds 25 residential units and 1 commercial unit. All necessary property rehab will come out of the borrower’s pocket and will be strictly cosmetic updates.

The Results

• After Repair Value
$2,720,000
• Sale Price
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