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Hard Money Loan For Cash Out & New Construction In West Park, FL

Address: West Park, FL
Borrower Profile: Repeat Borrower & Experienced Builder
Work Description: New Construction - Single Family
Purchase Price: $63,000
Renovation Budget: $180,000 (Construction)
Loan Amount: $194,000
Cash Available for Purchase: $9,000 (Cash Out)
Cash Available for Renovation: $180,000 (Construction)
Loan Structure: 12 Months Interest Only
Loan Purpose: Cash Out And New Construction
ARV: $352,000

Asset Based Lending recently financed a cash out and new construction hard money loan for a repeat borrower and experienced builder in West Park, Florida. After purchasing the property in cash on his own, the investor came to ABL seeking to pull some cash out from his purchase as well as finance the construction for the current project. The subject property will be a 2,488 square foot single family home with 3 bedrooms, 2 bathrooms, and a 1 car garage. The home will feature contemporary look with formal living and dining rooms, an open kitchen with a large island, and a large master bedrooms with a walk-in closet. The home will also feature a bonus room to be used for a gym or media room.

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