The Client

Experienced Investor
• Loan Purpose
Property Purchase and New Construction
• Loan Structure
12 months interest only

The Investment

Tear Down and New Construction
• Purchase Price
$500,000
• Renovation Budget
$578,000
• Loan Amount
$925,000
• Cash Available for Purchase
$322,000
• Cash Available for Renovation
$578,000 (Construction)

The ABL Partnership

Believe it or not, this property was first purchased as a community church and transformed into three beautiful townhomes. Our investors took out a hard money loan to fund the purchase of this property and the construction of three out of the five residences. In order to complete this new construction project, after gathering all necessary permits, a full interior demolition and exterior redesign was performed. Next, our investors installed brand new piping systems, gas and water lines, electrical systems and any necessary connections followed by the framework for each three bedroom, two and a half bath unit. Moving forward, all new windows, interior and exterior doors, drywall and wood flooring were added to each unit. Our investors completed their build with new cabinets, granite countertops, stainless steel appliances, fresh neutral paint, tiled bathrooms and ample closet space. Not only were each of these townhomes beautiful – a balcony, private yard and designated parking space were added for each unit, undeniably giving these homes the “WOW” factor!

The Results

• After Repair Value
$1,380,000
• Sale Price
$1,409,500
• Project Payoff
13 months
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