The Client

Repeat Borrower – Experienced Investor
• Loan Purpose
Fix And Flip Loan
• Loan Structure
12 Months Interest Only

The Investment

Fix & Flip - Single Family
• Purchase Price
$800,000
• Renovation Budget
$54,750
• Loan Amount
$734,000
• Cash Available for Purchase
$679,250
• Cash Available for Renovation
$54,750

The ABL Partnership

Asset Based Lending recently funded a fix and flip hard money loan in Southampton New York. The borrower is a repeat borrower and experienced real estate investor. The property was purchased for $800,000 with a renovation budget of $54,750 and total loan funded at nearly 86% LTC.  This property is a 4-bedroom, 3-bathroom single family home measured at approximately 2,400 square feet. Renovation will focus primarily on gutting master bathroom along with other minor updates. Other work will include refinishing hardwood floor, repairing roof, repairing deck, and fixing pool liner.

The Results

• After Repair Value
$1,300,000
• Sale Price
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