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Brandywine MD Fix And Flip Loan

Address: Brandywine, MD
Borrower Profile: First Time Investor
Work Description: Fix & Flip - Single Family
Purchase Price: $240,000
Renovation Budget: $58,000
Loan Amount: $250,000
Cash Available for Purchase: $192,000
Cash Available for Renovation: $58,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $385,000
Situation:

Asset Based Lending recently funded a hard money fix and flip loan in Brandywine MD for a first-time borrower with no previous real estate investing experience. The property was purchased for $240,000 with a renovation budget of $58,000 with a total loan funded at nearly 84% LTC. The property is a 5-bedroom, 2.5-bathroom single-family detached measured at 1344 square feet. Renovations will be focused on the interior with the kitchen and bathrooms being fully gutted. Deck will be added to the property. New gutters will be installed, and septic system will be replaced. The estimated time for renovation is two months, with final sale expected within two months after completion.

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