Asset Based Lending recently funded a new construction loan with a repeat borrower and experienced real estate investor. The property was purchased for $525,000 with a renovation budget of $699,290 and a loan amount of $1,264,000. The property will be single-family detached, as the house is completely framed. Located In Sylvan Park, this is one of Nashville’s walkable neighborhoods with bars, restaurants, a farmers’ market, and the McCabe Golf Course nearby making it a great choice for the borrower’s real estate portfolio. The 3,002 square foot property will include a 2-car garage, 4 bedrooms and 4 bathrooms, with a laundry and loft on the 3rd floor. With high-end finishes, arch shingles roofing, and white oak hardwood floors, the borrower plans to build the project in 6 months and sell it in 2.
