fix and flip investment properties

Case Studies

Prequalify Today
Back to All Case Studies

Palm Bay FL Fix & Flip Hard Money Loan

Address: Palm Bay, FL
Borrower Profile: New Investor
Work Description: Partial Gut - Single Family
Purchase Price: $107,625
Renovation Budget: $26,700
Loan Amount: $110,000
Cash Available for Purchase: $197,000
Cash Available for Renovation: $26,700
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $170,000
Sale Price: $225,000
Situation:

Asset Based Lending funded a hard money fix and flip loan for a project in Palm Bay, Florida. The borrowers were brothers that had completed only one fix and flip in the last three years. One of the brothers was a contractor that oversaw the renovation. The property was a single-family 3-bedroom, 2-bathroom measured at 1,176 square feet. Kitchen was completely gutted while bathroom and other areas of the house received cosmetic updates including new light fixtures & outlets, installing laminate flooring, and replacing the roof. Renovation was projected to take approximately two months.

Outcome:

Renovation was completed on schedule and the home sold for a net profit of $48,567. The borrowers enjoyed the ABL loan process and are currently looking for their next property to fix and flip with ABL as their hard money lending partner.

Florida hard money lenders
Bathroom 1 - Before
hard money loans in Palm Bay Florida
Bathroom 1 - After
Fix and flip loans in Florida
Kitchen - Before
Fix and flip hard money loans Florida
Kitchen - After
Porch - Before
Florida hard money lenders
Porch - After
Prequalify For A Hard Money Loan Today
Get Started