Florida Hard Money Lender – St Petersburg New Construction

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Address: St Petersburg, FL

Borrower Profile: Experienced Investor & Builder

Work Description: New Construction - Single Family

Purchase Price: $105,000

Renovation Budget: $265,000 (Construction)

Loan Amount: $297,000

Cash Available for Purchase: $32,000

Cash Available for Renovation: $265,000 (Construction)

Loan Structure: 12 Months Interest Only

Loan Purpose: Land Purchase And New Construction

ARV: $500,000

Situation:

Asset Based Lending is proud to finance another land purchase and new construction hard money loan for a repeat borrower and experienced investor in St Petersburg, Florida. The investor will demolish the existing structure and a build a 2,248 square foot 4 bedroom 3 bathroom single family home with a formal dining room, office, and garage. The finished product will include high end finishes and a large 30 foot backyard.