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Manchester Connecticut Fix & Flip Loan

Address: Manchester, CT
Borrower Profile: First Time Investor
Work Description: Fix & Flip - Single Family
Purchase Price: $109,900
Renovation Budget: $36,000
Loan Amount: $116,000
Cash Available for Purchase: $80,000
Cash Available for Renovation: $36,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $198,000
Situation:

Asset Based Lending recently funded a hard money loan in Manchester Connecticut for a real estate investor embarking on his first fix and flip project. The property was found with the help of a realtor, and is located in the area where the investor has lived for the last 18 years. The scope of work for the $36,000 rehab includes re-finishing the hardwood floors, upgrading the kitchen and bathroom, fixing the roof, and other cosmetic upgrades throughout.

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