201-942-9089 info@abl1.net

Conway South Carolina Fix And Flip Loan

Address: Conway, SC
Borrower Profile: First-Time Borrower — Full-Time Real Estate Investor
Work Description: Fix And Flip — Cosmetic Renovation
Purchase Price: $100,000
Renovation Budget: $25,000
Loan Amount: $105,000
Cash Available for Purchase: $105,000
Cash Available for Renovation: $25,000
Loan Structure: 12 months interest only
Loan Purpose: Property Purchase & Rehabilitation
ARV: $250,000

Asset Based Lending recently funded a hard money fix and flip loan in Conway South Carolina. The borrower is a first-time borrower and full-time real estate investor. Another lender had previously approved the deal, but withdrew funding at the closing table, so Asset Based Lending was here for a rush closing that saved the deal. The property is a single-family home with 3-bedrooms, 3-bathrooms measured at 1,418. Renovation will be mostly cosmetic updates to the interior and exterior, including installation of a new HVAC system. Kitchen will receive new appliances, countertops, and cabinets with new tile flooring throughout the kitchen and bathrooms. Project is expected to take approximately four months with final sale occurring shortly after completion.