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Hard Money Loan For Fix & Flip In Philadelphia PA

Address: Philadelphia, PA
Borrower Profile: Experienced Investor
Work Description: Gut Renovation Of Multifamily Property
Purchase Price: $70,000
Renovation Budget: $100,000
Loan Amount: $136,000
Cash Available for Purchase: $36,000
Cash Available for Renovation: $100,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $255,000
Situation:

Asset Based Lending recently closed a hard money loan for the gut renovation of a two family row house in Philadelphia, PA. The renovation will be extensive, including all new electrical, plumbing, and HVAC systems in addition to new hardwood floors throughout. The borrower is an exceptionally experienced investor, and plans to keep the property for rental income once the rehab is complete. ABL will be facilitating the long term refinance through our Renovate to Rent program.

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