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Philadelphia Fix And Flip Hard Money Loan

Address: Philadelphia, PA
Borrower Profile: Experienced Investor & General Contractor
Work Description: Gut Renovation - Three Family
Purchase Price: $72,000
Renovation Budget: $182,000
Loan Amount: $135,000
Cash Available for Renovation: $135,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $425,000
Situation:

After purchasing this property in Philadelphia outright with his own cash, this investor came to Asset Based Lending for a hard money rehab only loan. The investor, who also owns a construction company, is $50,000 into the renovation and the property still needs an additional $135,000. The scope of work for this three-family property is extensive – a full gut renovation and square footage addition.

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