Asset Based Lending recently funded a hard money stabilized bridge loan in Sharpsburg North Carolina. The borrower is a first-time borrower and experienced portfolio investor that focuses on buy & hold rental property. This borrower specializes in affordable rental property and keeps their prices a little behind market rents to maintain long term tenants. The properties being financed are four quadraplexes on one parcel of land, with identical units of 2-bedroom, 1-bathrooms. Each unit is currently occupied with a leased tenant. The borrower’s exit strategy is to refinance once market rates stabilize in their favor and hold these units as part of their rental portfolio.
