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Florida Hard Money Loan For Fix & Flip In Boca Raton

Address: Boca Raton, FL
Borrower Profile: Husband And Wife Team
Work Description: Fix & Flip - Single Family Condo
Purchase Price: $140,000
Renovation Budget: $42,900
Loan Amount: $146,000
Cash Available for Purchase: $103,100
Cash Available for Renovation: $42,900
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $225,000
Situation:

ABL recently closed a hard money loan for a fix and flip project in Boca Raton, Florida. This husband and wife team is new to ABL, but has some experience investing in real estate as well as being a general contractor. The subject property is a 2 bed / 2 bath 1,250 sqft condo. The $43,000 scope of work for renovations includes gutting the kitchen, opening up the floor plan by taking down the wall between the dining and living rooms, installing new flooring throughout, gutting both bathrooms, and other cosmetic upgrades.

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