Fix And Flip Loan In Abington PA
Address: Abington, PA
Borrower Profile: Experienced Investor
Work Description: Gut Renovation - Single Family
Purchase Price: $165,000
Renovation Budget: $90,000
Loan Amount: $212,000
Cash Available for Purchase: $122,000
Cash Available for Renovation: $90,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $325,000
Sale Price: $350,000
Kitchen – Before
Kitchen – After
Situation:
Asset Based Lending financed a hard money loan for a fix and flip project in Abington, PA.The subject property is a 1,847 square foot single family home built in 1915 consisting of 6 bedrooms and 1.5 bathrooms. The property was found as an off-market deal, and needs roughly $90,000 in renovations. The scope of work for rehab is fairly extensive and includes adding a new bathroom, gutting the kitchen and existing bathrooms, as well as other cosmetic upgrades throughout.
Outcome:
Bathroom – Before
Interior – Before
Bathroom – After
Interior – After
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