201-942-9089 info@abl1.net

Philadelphia Pennsylvania Fix And Flip Loan

Address: Philadelphia, PA
Borrower Profile: First-Time Borrower — Real Estate Investor
Work Description: Fix and Flip — Multi Family
Purchase Price: $10,000
Renovation Budget: $518,000
Loan Amount: $448,000
Cash Available for Purchase: $131,100
Cash Available for Renovation: $316,900
Loan Structure: 12 months interest only
Loan Purpose: Loan Refinance & Property Rehabilitation
ARV: $929,000

­­­Asset Based Lending recently funded a property purchase and fix and flip loan for a first-time borrower and real estate investor in Philadelphia, Pennsylvania with a first-time borrower and real estate investor. This multi-family property was purchased for $10,000 with a renovation budget of $518,000 and a loan amount of $448,000. The renovations will include brick siding on the front, new rubber flat roofing, metal exterior doors, and new windows on the exterior. Interior will receive shaker cabinets in the kitchen, quartz countertops, ceramic tile backsplash, hardwood floors, new vanities, toilets, fixtures, and rubs in all bathrooms, paint throughout, and tile floors. The borrower anticipates a 9–12-month timeline to complete the rehab and their exit strategy is to sell.