Situation:

Asset Based Lending recently funded a hard money fix and flip loan in Palm Beach Gardens Florida. The borrower is a repeat borrower and full-time builder & real estate investor. The property was purchased for $1,425,000 with a renovation budget of $896,900 and total loan funded at 90% LTC and 70% LTV. The property is a single-family 4-bedroom, 4-bathroom that will become a 5-bedroom, 5.5-bathroom measured at 7,161 square feet after renovation. Primary focus will be repurposing the garage to add an additional bedroom and home office. Kitchen will receive high-end finishes with quartz countertops, custom cabinets, and breakfast nook. Baths will feature unique tiles in each with neutral white counters and high-end finishes.