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Allentown PA Fix & Flip Hard Money Loan

Address: Allentown, PA
Work Description: Buy Rehab & Rent - Multifamily
Purchase Price: $172,000
Renovation Budget: $17,000
Loan Amount: $154,000
Cash Available for Purchase: $137,000
Cash Available for Renovation: $17,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $255,000
Situation:

These brothers just listed their first fix and flip and wasted no time in taking on their second rehab project – this time, with the intention to hold and rent aided by a hard money loan from ABL. This Pennsylvania multi-family has five total bedrooms and three baths, split between two total units. The rehab will be cosmetic, with most of the budget going toward the kitchen and bathrooms. Although the unit is currently occupied, the brothers will be in and out in less than a month, providing the tenants with updated apartments and the option to renew their month-to-month leases at a rent that reflects the increased value of the units.

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