The Client

First Time Borrower — Real Estate Investor
• Loan Purpose
Cash Out Refinance
• Loan Structure
Fully Amortizing 30-Year
• Loan Used

The Investment

• Purchase Price
$151,000
• Renovation Budget
$243,000
• Loan Amount
$157,950
• Cash Available for Purchase
• Cash Available for Renovation

The ABL Partnership

Asset Based Lending recently funded a DSCR rental loan for a new borrower in Midway Park North Carolina. This real estate investor contacted ABL for a cashout refinance loan for a single-family property. At the time of purchase the property was not occupied, but the investor expects to collect market. With a DSCR of 1.12 this property will generate positive cash-flow for the borrower. Midway Park North Carolina is located near the coast, north of Wilmington. There is a strong rental community in this area. About 83% of residents are renting their homes in this area making this a great area for rental property investors.

 

The Results

• After Repair Value
1.12
• Sale Price
• Return on Investment
• Project Payoff
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