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Hazel Crest Illinois Fix And Flip Loan

Address: Hazel Crest, IL
Borrower Profile: First-Time Borrower — Experienced Real Estate Investor
Work Description: Fix and Flip — Single Family
Purchase Price: $107,500
Renovation Budget: $65,000
Loan Amount: $146,000
Cash Available for Purchase: $81,000
Cash Available for Renovation: $65,000
Loan Structure: 12 months interest only
Loan Purpose: Property Purchase & Rehabilitation
ARV: $230,000
Illinois Hard Money Loan
Hazel Crest Fix and Flip

­­­­Asset Based Lending recently funded a fix and flip loan to a first-time borrower and experienced real estate investor in Hazel Crest Illinois. This borrower operates using the buy and hold strategy and intends to refinance into a rental loan once the renovations are complete. Due to their level of experience working on projects like this one, our underwriters felt comfortable extending 85% LTC with a total loan amount of $146,000. The scope of work on this 5-bedroom, 2.5-bathroom single-family home includes installing a new roof and gutters and replacing the windows. Luxury vinyl plank flooring will be installed throughout the home except in the bedrooms where the borrower intends to install new carpets. The kitchen will be updated with new cabinets, quartz countertops, and stainless-steel appliances. In the bathrooms new tile there will be all new tile and prefabricated vanities. The borrower expects to complete the renovations in 2 months at which time they will refinance into a DSCR loan and rent the property to tenants.

IL Real Estate Investing
Hazel Crest Real Estate Investing
IL Fix and Flip
Hazel Crest Hard Money Loan