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Florence South Carolina Fix And Flip Loan

Address: Florence, South Carolina
Borrower Profile: First Time Borrower — Real Estate Investor
Work Description: Fix and Flip — Single Family
Purchase Price: $128,002
Renovation Budget: $58,700
Loan Amount: $158,000
Cash Available for Purchase: $99,300
Cash Available for Renovation: $58,700
Loan Structure: 12 months interest only
Loan Purpose: Property Purchase & Rehabilitation
ARV: $285,000
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­Asset Based Lending recently funded a fix and flip loan for a first-time borrower in Florence, South Carolina. The property was purchased for $128,002 with a renovation budget of $58,700 and a loan amount of $158,000. Inside the kitchen will undergo a transformation with repainted cabinets adorned with new shaker doors and fixtures, complemented by stainless steel appliances and either granite or quartz countertops, alongside a tile backsplash. Flooring choices include tiling for the kitchen and bathrooms, while bedrooms receive carpeting, with a plan to revitalize existing hardwood floors through sanding and refinishing. Bathroom renovation involves painting, along with the installation of new cabinets, toilets, vanities, sinks, and showers/tubs. Interior repair extends to repainting walls after patching worn areas and installing new doors throughout, coupled with scraping and repainting the existing popcorn texture. On the exterior, attention is directed towards minor repairs to the garage roof, as the main roof was recently replaced. Additional exterior enhancements include fresh paint for shutters and trim, pressure washing of brick surfaces, replacement of the damaged front door, fencing repairs, landscaping efforts, and maintenance of the pool and pump system.


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