Asset Based Lending recently funded a fix and flip hard money loan to a repeat borrower and experienced real estate investor. This real estate investor focuses their business on Pittsburgh Pennsylvania, where this single-family property is located. For this project the investor was seeking funding for the renovation and made the initial purchase for the property using cash. The scope of the work will include heavy renovation to the interior of the property. The plumbing and electrical will be updated and a new HVAC system will be installed. Everything in the existing bathrooms will be replaced and two bathrooms will be added, one in the basement and one on the second floor as an ensuite to the main bedroom. For the kitchen the investor will replace the cabinets and countertops, and hardwood flooring will be installed throughout the home. Renovations are expected to be complete in five months, at which time the borrower will list the home for final sale.
