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Baltimore Fix And Flip Loan Funded By Hard Money Lender

Address: Baltimore City, MD
Borrower Profile: Experienced Investor
Work Description: Fix & Flip - (2) Single Families
Purchase Price: $170,000
Renovation Budget: $36,000
Loan Amount: $172,000
Cash Available for Purchase: $136,000
Cash Available for Renovation: $36,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $360,000

Asset Based Lending recently funded a two-property blanket hard money loan for a fix and flip project in Baltimore City, Maryland. The borrower is an exceptionally experienced real estate investor in the Baltimore area, who is buying two properties next door to each other that he plans on renovating and refinancing to keep for rental income. The $36,000 scope of work for renovations includes new kitchens and bathrooms as well as cosmetic upgrades throughout both units.

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