201-942-9089 info@abl1.net

Philadelphia Pennsylvania Fix And Flip Loan

Address: Philadelphia, Pennsylvania
Borrower Profile: Repeat Borrower — Experienced Real Estate Investor
Work Description: Fix and Flip — Single Family
Purchase Price: $422,625
Renovation Budget: $30,000
Loan Amount: $382,000
Cash Available for Purchase: $352,000
Cash Available for Renovation: $30,000
Loan Structure: 12 months interest only
Loan Purpose: Property Purchase & Rehabilitation
ARV: $567,000
best hard money lender in in Pennsylvania

­Asset Based Lending recently funded a fix and flip loan for a first time borrower and experienced real estate investor. This single-family property was purchased for $422,625 with a construction escrow of $30,000 and a loan amount of $382,000. The scope of work for this property involves a cosmetic rehab, including electrical work in the basement, installation of stainless-steel appliances in the kitchen, general tasks such as painting, sheetrock installation in the basement, and adding moldings. No permits or underground storage tanks (UST) are required. The project will be self-managed by a licensed and insured general contractor, with the exit strategy being refinance.

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