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Hard Money Loan For Fix & Flip In Laurel Maryland

Address: Laurel, MD
Borrower Profile: Experienced Investor
Work Description: Fix & Flip - Single Family
Purchase Price: $230,000
Renovation Budget: $48,000
Loan Amount: $232,000
Cash Available for Purchase: $172,000
Cash Available for Renovation: $48,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $357,000
Situation:

Asset Based Lending recently financed a hard money loan for a fix and flip project in Laurel, Maryland. The investor team is new to ABL, but is experienced with several flips and rentals under their belt. The subject property is a 1,000 square foot 3 bed / 1.5 bath (plus basement) single family home. The $48,000 scope of work for renovations includes converting the floor plan to a 4 bed / 3 bath with the finished basement, upgrading the HVAC and electrical systems, and replacing the flooring throughout.

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