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Calumet City Illinois Fix And Flip Loan

Address: Calumet City, IL
Borrower Profile: Repeat Borrower — Experienced Real Estate Investor
Work Description: Fix and Flip — Single Family
Purchase Price: $95,000
Renovation Budget: $27,000
Loan Amount: $105,000
Cash Available for Purchase: $78,000
Cash Available for Renovation: $27,000
Loan Structure: 12 months interest only
Loan Purpose: Property Purchase & Rehabilitation
ARV: $180,000
Situation:

­­­Asset Based Lending recently funded a fix and flip loan to a repeat borrower and experienced real estate investor in Calumet City Illinois. For this fix and flip, the borrower intends to perform a cosmetic rehab. The exterior work includes freshening up the landscaping and updating the doors. For the interior, the borrower will install LVP flooring in the kitchen and keep the existing floors throughout the home. The kitchen upgrades include installing new appliances, repainting cabinets, and updating the bathroom fixtures. Once renovations are complete, this borrower will list this property for final sale.