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East Lyme Connecticut Hard Money Fix And Flip Loan

Address: East Lyme, CT
Borrower Profile: First-Time Borrower – Experienced Real Estate Investor
Work Description: Cosmetic Renovation & Repairs – Single-Family
Purchase Price: $205,000
Renovation Budget: $14,000
Loan Amount: $178,000
Cash Available for Purchase: $178,000
Cash Available for Renovation: $14,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Property Purchase & Rehabilitation
ARV: $260,000

Asset Based Lending recently funded a fix and flip loan in East Lyme Connecticut. The borrower is a first-time borrower and experienced real estate investor. The property was purchased for $205,000 with a renovation budget of $14,000 and total loan funded at 81% LTC. This property is a single-family 3-bedroom, 2-bathroom measured at 1,300 square feet. Renovation is strictly cosmetic with new coats of paint and replacing kitchen cabinets. The borrower found ABL through word of mouth, as other real estate investors told them about our competitive rates and dedication to five-star customer service. Project is expected to take between two and three months with final sale occurring shortly after completion.

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Fix and flip hard money loan East Lyme CT
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