Asset Based Lending recently funded a hard money new construction loan in Knoxville Tennessee. This repeat ABL borrower is an experienced real estate investor that uses the same general contractor for all of their Tennessee real estate investments. As with their other ABL deal, the borrower plans to hold the property as a rental by using ABL’s rental refinance program. The proposed build is for a single family 3-bedroom, 2-bathroom measured at 1,300 square feet. Property will feature mid-grade finishes, vinyl siding, double hung windows, nine-foot-high ceilings, hollow interior doors, and hardwood floors throughout. Kitchen will be highlighted by shaker cabinets, granite countertops, and stainless steel appliances. Project is expected to take upwards of nine months, with loan refinance occurring shortly after completion.
