The Client

Repeat Borrower — Real Estate Investor
• Loan Purpose
Cash Out Refinance
• Loan Structure
Fully Amortizing 30-Year
• Loan Used

The Investment

• Purchase Price
$93,000
• Renovation Budget
$205,000
• Loan Amount
$143,500
• Cash Available for Purchase
• Cash Available for Renovation

The ABL Partnership

Asset Based Lending recently funded a DSCR rental loan for a repeat borrower in Salisbury North Carolina. This investor contacted ABL for a cash out and refinance loan on a rental property with a tenant in place. Since a tenant is already in place the borrower is collecting monthly rent at market rate. With a DSCR of 1.10 this property is cash-flowing positively and contributing passive income to the borrower’s real estate portfolio. The rental market in Salisbury NC is strong with about half of the residents renting their homes.

The Results

• After Repair Value
1.10
• Sale Price
• Return on Investment
• Project Payoff
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