201-942-9089 info@abl1.net

Chattanooga Tennessee Fix And Flip Loan

Address: Chattanooga, TN
Borrower Profile: Repeat Borrower — Experienced Real Estate Investor
Work Description: Fix and Flip — Single Family Detached
Purchase Price: $1,000,000
Renovation Budget: $797,900
Loan Amount: $1,518,000
Cash Available for Purchase: $721,000
Cash Available for Renovation: $797,800
Loan Structure: 12 months interest only
Loan Purpose: Property Purchase & Rehabilitation
ARV: $2,250,000

­­­­Asset Based Lending recently funded a fix and flip loan to a repeat borrower and experienced real estate investor in Chattanooga Tennessee. The real estate investors plan to gut the entire property to update and change the layout to create a luxury primary suite as well as open concept living spaces. The HVAC and roof will be updated, and repairs will be made to the façade of the home. The interior will feature high end finishes and appliances. Bathrooms will have custom tiling, and custom cabinetry will be installed in the kitchen. Renovations to this property are expected to take 8 months, at which time the borrower will list the property for final sale.