201-942-9089 info@abl1.net

Bartonville Texas Hard Money New Construction Loan

Address: Bartonville, Texas
Borrower Profile: First Time Borrower — Experienced Real Estate Investor
Work Description: New Construction — Single Family
Purchase Price: $495,000
Renovation Budget: $1,000,000 (Construction)
Loan Amount: $1,144,000
Cash Available for Purchase: $144,000
Cash Available for Renovation: $1,144,000 (Construction)
Loan Structure: 12 months interest only
Loan Purpose: Land Purchase & Property New Construction
ARV: $1,761,000
Situation:

­ABL recently funded a new construction single family project in Bartonville Texas for an experienced real estate investor. This investor contacted ABL after finding information about our loan programs online. Prior to obtaining a new construction loan, the borrower demoed the previous structure and cleared the land for the new construction. The scope of the work includes five bedrooms, four full baths, and a two-car garage. The living room and kitchen will be open concept featuring quartz countertops, a 5-person island, high-end appliances, 21ft ceilings, and the main bedroom will be located at the back of the home on the first floor. Hardwood floors will be installed throughout the home and all cabinetries will be custom wood. The borrower is also installing smart features throughout the home. The borrower intends to have all construction complete and sell this property in 9 months.