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Fix and Flip Loan in Sumter South Carolina

Address: Sumter, South Carolina
Borrower Profile: Repeat Borrower — Real Estate Investor
Work Description: Fix and Flip — Single Family
Purchase Price: $85,000
Renovation Budget: $100,000
Loan Amount: $151,000
Cash Available for Purchase: $51,000
Cash Available for Renovation: $100,000
Loan Structure: 12 months interest only
Loan Purpose: Property Purchase & Rehabilitation
ARV: $253,000
Best PML in South Carolina
Sumter Real Estate

­Asset Based Lending recently funded a fix and flip loan for a repeat borrower in Sumter, South Carolina. The property was purchased for $85,000 with a renovation budget of $100,000 and a loan amount of $151,000. The scope of work for this single-family home encompasses both exterior and interior upgrades to enhance the house’s appeal and functionality. Externally, the roof will undergo minor repairs, the façade will be power washed and painted, windows and doors will be replaced, and landscaping will be refreshed with cleaning and flower additions. Internally, the kitchen will receive shaker cabinets and granite countertops, bathrooms will get new vanities and fixtures, and flooring will be upgraded with sanding of existing hardwood and addition of luxury vinyl plank. The entire project is estimated to take 6-8 months to complete.


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