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Philadelphia Fix And Flip Funded By PA Hard Money Lender

Address: Philadelphia, PA
Borrower Profile: Experienced Investor & Repeat Borrower
Work Description: Gut Renovation - Single Family
Purchase Price: $95,000
Renovation Budget: $58,000
Loan Amount: $130,000
Cash Available for Purchase: $72,000
Cash Available for Renovation: $58,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $220,000
Situation:

Asset Based Lending recently funded a hard money loan for a fix and flip project in Philadelphia, PA. The investor is an experienced investor and repeat borrower on his 4th deal with ABL. The subject property is a 1,536 square foot 3 bed /3 bath attached single family home. The $58,000 scope of work for renovation includes replacing all windows, painting, gutting and finishing the basement, installing new HVAC and electrical systems, adding a half bathroom, opening up the floor plan, and gutting the kitchen.

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