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Hard Money Loan For Fix & Flip In Baltimore Maryland

Address: Baltimore, MD
Borrower Profile: Repeat Borrower & Experienced Investor
Work Description: Fix & Flip - Single Family
Purchase Price: $78,000
Renovation Budget: $90,000
Loan Amount: $142,000
Cash Available for Purchase: $44,199
Cash Available for Renovation: $90,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $307,000
Situation:

Asset Based Lending recently financed a rush closing for a hard money fix and flip loan in Baltimore, MD. The borrower is a repeat borrower with ABL and is purchasing a 2,976 square foot single family home with 6 bedrooms and 4 bathrooms. The property is currently structured like a 3-family house, but will be converted back to a single family with the $90,000 scope of work. Additionally, they will convert the 3rd floor to a master suite and renovate the house with high-end finishes throughout.

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