Rising Sun MD Fix & Flip
Address: Rising Sun, MD
Borrower Profile: Experienced investor and flipper.
Work Description: Substantial renovation of a single family house that had been vacant for some time after foreclosure in Northeast Maryland
Purchase Price: $125,000
Renovation Budget: $23,000
Loan Amount: $120,000
Cash Available for Purchase: $97,000
Cash Available for Renovation: $23,000
Loan Structure: 12 months interest only
Loan Purpose: Property Purchase and Rehabilitation
ARV: $230,000
Sale Price: $230,000
Time To Pay Off: 5 months
Kitchen Before
Kitchen After
Situation:
Broker approached us to finance a fix and flip after having a difficult time closing with another hard money lender. The loan needed to close within five business days. Working intensively with the borrower, ABL was able to settle the transaction.
Outcome:
The renovation proceeded without difficulty, on time and on budget. The property was sold and loan paid off within five months.
Living Room Before
Bathroom Before
Living Room After
Bathroom After
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