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Hard Money Loan In Laurel MD For Fix & Flip

Address: Laurel, MD
Borrower Profile: Repeat Borrower
Work Description: Fix & Flip - Single Family
Purchase Price: $230,000
Renovation Budget: $30,000
Loan Amount: $216,000
Cash Available for Purchase: $186,000
Cash Available for Renovation: $30,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $333,000
Situation:

Asset Based Lending recently funded a hard money fix and flip loan for a repeat borrower and retired Navy veteran in Laurel, Maryland. The subject property is an 1,100 sqft 3 bed / 1 bath single family home in need of approximately $30,000 in rehab. The scope of work for renovations includes replacing the furnace, adding central air conditioning, finishing the basement, new hardwood flooring throughout, and gutting the kitchen and bathroom.

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