fix and flip investment properties

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Levittown PA Fix And Flip Hard Money Loan

Address: Levittown, PA
Borrower Profile: Repeat Borrower & Experienced Investor
Work Description: Fix & Flip - Single Family
Purchase Price: $180,000
Renovation Budget: $93,800
Loan Amount: $245,000
Cash Available for Purchase: $151,200
Cash Available for Renovation: $93,800
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $350,000
Situation:

Asset Based Lending recently funded a hard money fix and flip loan in Levittown PA for a repeat borrower with previous real estate investing experience. The property was purchased for $180,000 with a renovation budget of $93,800 with a total loan funded at nearly 90% LTC. The property is a 3-bedroom, 1-bathroom single-family detached measured at 1575 square feet. The investor will be raising the second floor to include a roof dormer and transform the property into a 4-bedroom, 2-bathroom. The house footprint will not be changing, although it will be converted to electric instead of natural gas. Renovations are expected to take approximately four months, with home sale expected within 60 days after completion.

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