Situation:

Asset Based Lending recently financed a hard money loan for a fix and flip in Phoenixville, PA. The borrower is new to ABL but an experienced real estate investor and retired financial services professional. The subject property is a 3,400 square foot single family home in Chester County with 5 bedrooms and 3 bathrooms. The $51,000 scope of work for renovations includes gutting the kitchen and bathrooms, upgrades to the plumbing and HVAC systems, new flooring and paint throughout, as well as other cosmetic improvements.