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Hard Money Loan For Construction In Tampa Florida

Address: Tampa, FL
Borrower Profile: Experienced Investor & Builder
Work Description: New Construction - Townhomes
Purchase Price: $324,000
Renovation Budget: $2,016,000 (Construction)
Loan Amount: $1,872,000
Cash Available for Renovation: $1,872,000 (Construction)
Loan Structure: 12 Months Interest Only
Loan Purpose: New Construction
ARV: $3,535,000
Situation:

Asset Based Lending recently financed an exciting new project for a repeat borrower and experienced investor in Tampa, Florida. The investor purchased the property in cash several weeks prior, and then came to ABL to finance the cost to build. The hard money construction loan will be used to build 7 attached three-story townhouses. Each townhouse will be a 2,310 square foot single family home with 4 bedrooms, 4 bathrooms, and a 2 car garage. The homes will have high end finishes throughout, including multi-zone heat and air, crown moldings, 10 foot ceilings, and unique tile and granite.

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