fix and flip investment properties

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Hard Money Fix And Flip Loan In Lehigh Acres FL

Address: Lehigh Acres, FL
Borrower Profile: First Time Borrower, Experienced Investor
Work Description: Cosmetic Rehab - Single Family
Purchase Price: $175,000
Renovation Budget: $17,500
Loan Amount: $157,500
Cash Available for Purchase: $140,000
Cash Available for Renovation: $17,500
Loan Structure: 12 Months Interest Only
Loan Purpose: Buy Rehab Rent Refinance
ARV: $257,000
Situation:

Asset Based Lending recently funded a hard money fix and flip loan in Lehigh Acres FL for a first-time borrower with previous real estate investing experience. The property was purchased for $175,000 with a renovation budget of $17,500 with a total loan funded at nearly 82% LTC. The property is a 4-bedroom, 3-bathroom measured at approximately 2048 square feet. After rehab is complete, the investor plans to refinance the property using ABL’s rental loan financing to keep the property as an income producing asset. Renovations will be focused on interior cosmetic upgrades and are expected to take approximately one month.

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