201-942-9089 info@abl1.net

Nashville Tennessee Hard Money New Construction Loan

Address: Nashville, Tennessee
Borrower Profile: Repeat Borrower — Experienced Real Estate Developer
Work Description: New Construction — Single Family Detached
Purchase Price: $525,000
Renovation Budget: $897,270
Loan Amount: $1,264,000
Cash Available for Purchase: $564,710
Cash Available for Renovation: $699,290
Loan Structure: 15 months interest only
Loan Purpose: Refinance & New Construction
ARV: $2,000,000
new construction in Nashville TN
Nashville Tennessee New Construction

Asset Based Lending recently funded a new construction loan with a repeat borrower and experienced real estate investor. The property was purchased for $525,000 with a renovation budget of $699,290 and a loan amount of $1,264,000. The property will be single-family detached, as the house is completely framed. Located In Sylvan Park, this is one of Nashville’s walkable neighborhoods with bars, restaurants, a farmers’ market, and the McCabe Golf Course nearby making it a great choice for the borrower’s real estate portfolio. The 3,002 square foot property will include a 2-car garage, 4 bedrooms and 4 bathrooms, with a laundry and loft on the 3rd floor. With high-end finishes, arch shingles roofing, and white oak hardwood floors, the borrower plans to build the project in 6 months and sell it in 2.

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