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Hard Money Loan In Waldorf Maryland For Fix And Flip

Address: Waldorf, MD
Borrower Profile: Repeat Borrower
Work Description: Fix & Flip - Single Family
Purchase Price: $205,000
Renovation Budget: $66,181
Loan Amount: $227,000
Cash Available for Purchase: $147,199
Cash Available for Renovation: $66,181
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $359,000
Situation:

Asset Based Lending recently funded a hard money fix and flip loan for a repeat borrower purchasing a property in Waldorf, Maryland. The subject property is a 2,159 square foot single family home on a quarter-acre with 4 bedrooms and 3 bathrooms. The $66,000 scope of work for renovations includes gutter and roof repairs, minor landscaping, refinishing the rear deck, re-lining the pool, upgrading the kitchen and bathrooms, as well as new lighting and a fresh coat of paint throughout. The renovation is expected to take approximately 4 months to complete, with another 2 months to sell.

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