­Asset Based Lending recently funded a fix and flip loan for a repeat borrower Pensacola Florida. Unfortunately, this borrower had a negative experience with another lender which led them to contact ABL with the goal of a fast closing. They purchased a 4-family property where three out of four of the units were tenant occupied and in good condition. The borrower’s intention is to renovate one of the units and increase the rent for each over the course of three months. For the renovations this investor is only looking to update the kitchen with new stainless-steel appliances, refinish the bathrooms, and install new flooring. The borrower is expecting the renovations to take at least four months, at which time they will refinance and hold the property as a rental to collect monthly cashflow.