201-942-9089 info@abl1.net

Alpharetta Georgia New Construction Loan

Address: Alpharetta, GA
Borrower Profile: Repeat Borrower — Experienced Real Estate Investor
Work Description: New Construction — Three Single-Family Builds
Purchase Price: $550,000
Renovation Budget: $1,200,000 (Construction)
Loan Amount: $1,575,000
Cash Available for Purchase: $375,000
Cash Available for Renovation: $1,200,000 (Construction)
Loan Structure: 12 months interest only
Loan Purpose: Land Purchase & Property New Construction
ARV: $2,430,000

Asset Based Lending recently funded a hard money new construction loan in Alpharetta Georgia. The borrower is a repeat borrower and experienced real estate investor. The property was purchased for $550,000 with a construction budget of $1,200,000 and total loan funded at 90%. The proposed build is for three identical single-family homes that are each 4-bedroom, 3-bathroom measured at 2,200 square feet. Highlights will include high-end finishes, hardy plank facade, vinyl double-hung windows, hardwood and carpeted floors, crown molding, and hollow-core interior doors. Kitchens will feature quartz countertops, MDF cabinets, and high-end stainless steel appliances. Bathrooms will feature wall tile and quartz vanities. Construction is expected to take between six and nine months with final sale occurring shortly after completion.