Asset Based Lending recently funded a fix and flip loan to a repeat borrower and full-time real estate investor in Wilton Manors Florida. This borrower has flipped 8 properties in the last 3 years, 6 of which were financed by ABL. Their strong relationship with ABL and track record of flipping properties like this one made it possible for ABL to finance 86% LTC and 100% of the construction budget. For this project the construction amounted to $100,000 and encompasses installing Hurricane Impact Slider doors and updating the pool deck with white marble. The interior plans include updating the kitchen with shaker cabinets, quartz countertops, and stainless-steel appliances. The bathrooms will be updated with new vanities, toilets, and showers. Porcelain tile flooring will be installed throughout the home and the interior will be painted. Renovations are expected to last 6 months and the borrower will then list the property for final sale.
