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Florida Hard Money Lender – St Petersburg New Construction

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

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.

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