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Fix And Flip In Philadelphia Funded By Hard Money Lender

Address: Philadelphia, PA
Borrower Profile: Experienced Investor & Repeat Borrower
Work Description: Buy Rehab & Rent - Mixed Use
Purchase Price: $125,000
Renovation Budget: $80,000
Loan Amount: $164,000
Cash Available for Purchase: $84,000
Cash Available for Renovation: $80,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $397,000
Situation:

Asset Based Lending recently financed a hard money loan for a mixed-use fix and flip project in Philadelphia, PA. The experienced investor and repeat borrower plans to renovate both residential and commercial units before refinancing the property into a longer term loan and keeping it for rental income. The investor owns other property nearby, and believes much of the value comes from the commercial traffic volume and magnet school in the area.

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