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Hard Money Loan For Fix & Flip In Baltimore Maryland

Address: Baltimore, MD
Borrower Profile: Experienced Investor
Work Description: Fix & Flip - Single Family
Purchase Price: $99,900
Renovation Budget: $80,000
Loan Amount: $152,000
Cash Available for Purchase: $63,640
Cash Available for Renovation: $80,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $320,000
Situation:

Asset Based Lending recently financed a hard money fix and flip loan for the purchase and rehab of a single family home in Baltimore, Maryland. The borrowers are experienced real estate investors, but new to ABL and came to us after connecting on social media. The subject property is 1700 square foot 5 bed / 1.5 bath attached single family in need of approximately $80,000 in rehab. The scope of work for renovations includes adding 2 full bathrooms, gutting the kitchen and bathrooms, upgrading the master bedroom, adding a deck, and other cosmetic updates throughout.

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