The Client

Repeat Borrower — Experienced Real Estate Investor
• Loan Purpose
Property Purchase & Rehabilitation
• Loan Structure
12 months interest only
• Loan Used

The Investment

Fix & Flip — Single Family
• Purchase Price
$570,000
• Renovation Budget
$140,000
• Loan Amount
$565,000
• Cash Available for Purchase
$425,000
• Cash Available for Renovation
$140,000

The ABL Partnership

­­­Asset Based Lending recently funded a fix and flip loan with a repeat borrower and experienced investor. The property was purchased for $570,000 with a renovation budget of $140,000 and a loan amount of $565,000. The top floor includes a bedroom that requires significant renovation, including cleaning, repairing cracked walls, and fixing the flooring. This may involve installing new drywall and potentially new framing. Exterior improvements include replacing windows, repairing siding, and updating landscaping. Inside, the kitchen needs a complete overhaul with new cabinets, counters, appliances, and the addition of an island. The borrower is also considering opening some walls to expand the kitchen. Bathrooms require a complete renovation with brand-new fixtures. The entire house needs new hardwood flooring, painting, and drywall replacement. Electrical, HVAC, and plumbing systems need to be checked, which may involve opening additional walls to inspect the rough-ins. The basement also needs to be finished and the borrower expects a three-month timeline.

The Results

• After Repair Value
$875,000
• Sale Price
• Return on Investment
• Project Payoff
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