Florida Hard Money Lender – Cape Coral Construction Loan

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Address: Cape Coral, FL

Borrower Profile: Experienced Investor & Builder

Work Description: New Construction - Single Family

Purchase Price: $70,000

Renovation Budget: $300,000

Loan Amount: $300,000

Cash Available for Purchase: $0

Cash Available for Renovation: $300,000

Loan Structure: 12 Months Interest Only

Loan Purpose: New Construction

ARV: $555,000

Situation:

Asset Based Lending recently funded a hard money construction loan for an experienced investor and repeat borrower in Cape Coral, Florida. The subject build will be a 3/3/2 located on the canal with a great room and a study. The property will have a total of 3390 sq ft with approximately 2377 sq ft under air. This lot was purchased for $70K cash less than a year ago, and will take about $300,000 to build.