Asset Based Lending recently funded a hard money fix and flip loan in Syracuse, New York with a repeat borrower and real estate investor. The property was purchased for $85,000 with a renovation budget of $15,000 and a loan amount of $74,000. The renovation will include new shaker cabinets and countertops in the kitchen, new doors, paint throughout, and new tubs, walls, vanities, and toilets in the bathrooms. The exterior will receive scraping and repainting on the porch, new windows as needed, and new siding and gutters. The borrower anticipates a three month timeline and an exit plan to refinance/rent.
