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Hard Money New Construction Loan in Naples, FL

Address: Naples, FL
Borrower Profile: Experienced Builder, First-Time Borrower
Work Description: New Construction - Single Family
Purchase Price: $33,000
Renovation Budget: $167,000
Loan Amount: $130,000
Cash Available for Purchase: $80,000 (Cash Out)
Cash Available for Renovation: $50,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Cash Out And New Construction
ARV: $299,000

Situation:

Although this investor has built over 20 houses in the past two years, this is his first time utilizing hard money to complete a project. He is three quarters of the way through with this new construction and has invested $150,000 of his own money. Since the Naples market is so hot, he already has three more projects in mind and is leveraging his assets to obtain the hard money necessary to expand his business and maximize his profit potential. We look forward to working with him on many more successful deals in the future.