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Hard Money Loan For Fix And Flip In Phoenixville PA

Address: Phoenixville, PA
Borrower Profile: Experienced Investor
Work Description: Fix & Flip - Single Family
Purchase Price: $325,000
Renovation Budget: $51,650
Loan Amount: $310,000
Cash Available for Purchase: $242,850
Cash Available for Renovation: $51,650
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $560,000
Situation:

Asset Based Lending recently financed a hard money loan for a fix and flip in Phoenixville, PA. The borrower is new to ABL but an experienced real estate investor and retired financial services professional. The subject property is a 3,400 square foot single family home in Chester County with 5 bedrooms and 3 bathrooms. The $51,000 scope of work for renovations includes gutting the kitchen and bathrooms, upgrades to the plumbing and HVAC systems, new flooring and paint throughout, as well as other cosmetic improvements.

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