Cash Out And Construction Hard Money Loan In Jupiter FL

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Address: Jupiter, FL

Borrower Profile: Experienced Investor & Builder

Purchase Price: $500,000

Renovation Budget: $900,000

Loan Amount: $950,000

Cash Available for Purchase: $50,000 (Cash Out)

Cash Available for Renovation: $900,000

Loan Structure: 12 Months Interest Only

Loan Purpose: Cash Out & New Construction

ARV: $1,800,000

Situation:

Asset Based Lending recently funded a cash out and new construction hard money loan for a real estate investor in Jupiter, Florida. The borrower purchased this 10 acre lot in cash over a year ago, and came to ABL in order to pull some cash out of the equity and fund the renovations. The finished property will be almost 8,500 square feet of living space, plus approximately 6,100 square feet of porch and garage space.