Asset Based Lending recently funded a hard money fix and flip loan in Riverdale Georgia. These real estate investing partners are first-time borrowers with ABL and working on their first investment project. The property purchased is a 3-bedroom, 2.5-bathroom, 1800 square foot single-family in pre-foreclosure. The scope of work is cosmetic and focused on creating a modern and updated kitchen with new granite countertops, cabinets, and stainless-steel appliances. Although these borrowers are new to real estate investing, they are general contractors with experience in renovating homes in the Atlanta metro area and were great candidates for ABL’s fix and flip loan. Beyond the kitchen renovations, this home will be finished with new bathroom tiles, updated fixtures, and new paint throughout the property. This project is expected to take upwards of three months at which time the property will be listed for final sale.
