Philadelphia, PA Fix & Flip

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Address: Philadelphia, PA

Borrower Profile: Experienced Investors: husband and wife team

Work Description: Gut renovation of an urban single family home in Philadelphia

Purchase Price: $35,000

Renovation Budget: $57,500

Loan Amount: $75,000

Cash Available for Purchase: $17,500

Cash Available for Renovation: $57,500

Loan Structure: 12 months interest only

Loan Purpose: Property Purchase and Rehabilitation

ARV: $138,000

Sale Price: $149,900

Time To Pay Off: 6 months

Living Room After

Living Room Before

Situation:

Borrower was recommended to ABL by another real estate investor. He found the property on the MLS as an expired listing. The property sellers had to contend with a very complicated title history, thereby causing an extended eight year selling period. The buyer got a great deal.

Outcome:

Very fast rehabilitation completed in 90 days, followed by a fast selling period of only another 90 days. Very profitable deal for the borrowers.