201-942-9089 info@abl1.net

Brentwood Maryland Fix And Flip Loan

Address: Brentwood, MD
Borrower Profile: Repeat Borrower — New Real Estate Investor
Work Description: Cosmetic Renovation — Condo Townhome
Purchase Price: $205,000
Renovation Budget: $35,000
Loan Amount: $199,000
Cash Available for Purchase: $199,000
Cash Available for Renovation: $35,000
Loan Structure: 12 months interest only
Loan Purpose: Property Purchase & Rehabilitation
ARV: $290,000
Situation:

Asset Based Lending recently funded a hard money fix and flip loan in Brentwood Maryland. The borrower is a repeat borrower and new real estate investor. The property was purchased for $205,000 with a renovation budget of $35,000 and total loan funded at 83% LTC. The property is a single condo townhome with 3-bedroom, 1-bathroom measured at 1,093 square feet. Renovation is going to be cosmetic including new exterior door, and new engineered hardwood floors throughout. The kitchen will receive new cabinets, granite countertops, and stainless steel appliances. Bathroom will receive new tiling, new vanities, new mirrors, and new toilets. Project is expected to take two months with final sale occurring within two months of completion.