Hard Money Loan For Cash Out & Construction In Cape Coral FL

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Address: Cape Coral, FL

Borrower Profile: Repeat Borrower & Experienced Investor

Work Description: New Construction - Single Family

Purchase Price: $180,000

Renovation Budget: $349,000 (Construction)

Loan Amount: $423,000

Cash Available for Purchase: $59,000 (Cash Out)

Cash Available for Renovation: $349,000 (Construction)

Loan Structure: 12 Months Interest Only

Loan Purpose: Cash Out And New Construction

ARV: $739,000

Situation:

Asset Based Lending recently funded a hard money loan in Cape Coral Florida for a team of exceptionally experienced real estate investors and repeat ABL borrowers. The investors purchased the lot in cash and invested some of their own money getting the site ready to build. The finished subject property will be a 3,567 square foot 3 bed / 3 bath single family home with a 3-car garage, great room, and pool with high-end finishes throughout.