201-942-9089 info@abl1.net

Niles Ohio Fix And Flip Loan

Address: Niles, Ohio
Borrower Profile: Repeat Borrower - Experienced Real Estate Investor
Work Description: Fix and Flip - Single Family
Purchase Price: $50,000
Renovation Budget: $60,000
Loan Amount: $89,000
Cash Available for Purchase: $39,000
Cash Available for Renovation: $60,000
Loan Structure: 12 months interest only
Loan Purpose: Property Purchase & Rehabilitation
ARV: $173,000

Asset Based Lending recently funded a hard money fix and flip loan for a repeat borrower and highly experienced real estate investor in Niles, Ohio. The property was purchased for $50,000 with a renovation budget of $60,000. The scope of work for this Cash Out Property Rehabilitation is a new roof, vinyl windows, front porch, and new paint. The interior will also receive new paint as well as new floors, kitchen updates with white shaker, quartz counters, and stainless-steel appliances. All new bathrooms with updated tiles, sinks, tubs, lighting, and vanities. The borrower plans to complete this work in three months and sell by the end of the loan term.