The Client

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

The Investment

Fix & Flip - Single Family
• Purchase Price
$185,500
• Renovation Budget
$71,000
• Loan Amount
$228,000
• Cash Available for Purchase
$157,000
• Cash Available for Renovation
$71,000

The ABL Partnership

Asset Based Lending recently funded a hard money fix and flip loan in Staten Island New York for a repeat borrower with previous real estate investing experience. The property was purchased for $185,500 with a renovation budget of $71,000 and total loan funded at 89% LTC. The home is measured at 1200 square feet with 3-bedrooms, 1-bath and will remain at that sizing throughout the renovations. The walls and floors experienced extensive water damage and will require repairs in addition to the other renovations planned for the property. The bath and kitchen will be undergoing cosmetic upgrades as well as new roofing.

The Results

• After Repair Value
$355,000
• Sale Price
• Return on Investment
• Project Payoff
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