Asset Based Lending recently funded a hard money fix and flip loan in Scottdale Georgia. The borrower is a first-time borrower and experienced real estate investor. The property was purchased for $200,000 with a renovation budget of $285,000 with total loan funded at 85% LTC. The property is a single-family 2-bedroom, 1-bathroom measured at approximately 900 square feet that will be converted to a 4-bedroom, 3-bathroom measured at 2,501 square feet. This home will feature mid-grade finishes, wood facade with brick accents, vinyl double-pane windows, and hollow-core doors. Highlights will include 10-foot-high ceilings, crown molding, and vinyl floors. The kitchen will include granite countertops, shaker cabinets, tile backsplash, and stainless-steel appliances. Renovation is expected to take between six and eight months with final sale occurring shortly after completion.
