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Nashua New Hampshire Hard Money Fix And Flip Loan

Address: Nashua, NH
Borrower Profile: Repeat Borrower & Experienced Investor
Work Description: Cosmetic Rehab – Multi-Family 4
Purchase Price: $312,500
Renovation Budget: $46,000
Loan Amount: $311,000
Cash Available for Purchase: $265,000
Cash Available for Renovation: $46,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Buy Rehab Rent Refinance
ARV: $460,000
Situation:

Asset Based Lending recently funded a fix and flip loan in Nashua New Hampshire. The borrower is a repeat borrower and full-time real estate investor. The property was purchased for $312,500 with a renovation budget of $46,000 and total loan funded at 87% LTC. The borrower plans on refinancing and holding the property as an income-producing asset with our rental refinance program. The property is a four-unit multi-family with two units being 4-bedroom, 1-bathroom and two units being 2-bedroom, 1-bathroom measured at a total 3,200 square feet. Renovation will be small cosmetic updates inside and out to increase the potential rent the property could achieve. Borrower plans on refinancing the property within two months of completion.

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