Asset Based Lending recently funded a fix and flip loan for a first time borrower and experienced real estate investor. This borrower is a full time real estate investor with more than 50 projects completed in the last two years. For this single family home fix and flip the borrower intends to convert it from an illegal triplex to a single family home. The borrower plans to do a full gut renovation to this property, including updating the bathrooms and kitchen. They will install white oak floors throughout the home and finish the basement to add another bedroom and bathroom. The renovations to this property are expected to last 4 months, at which time it will be listed for final sale.
