201-942-9089 info@abl1.net

Pittsburgh Pennsylvania Fix And Flip Loan

Address: Pittsburgh, PA
Borrower Profile: Repeat Borrower — Full Time Real Estate Investor
Work Description: Gut Renovation — Single Family
Purchase Price: $97,000
Renovation Budget: $106,000
Loan Amount: $172,000
Cash Available for Purchase: $66,000
Cash Available for Renovation: $106,000
Loan Structure: 12 months interest only
Loan Purpose: Property Purchase & Rehabilitation
ARV: $345,000
Situation:

Asset Based Lending recently funded a hard money fix and flip loan in Pittsburgh Pennsylvania. The borrower is a repeat borrower and full time real estate investor. The property is currently a 3-bedroom, 1-bathroom measured at 1,396 square feet that will become 3-bedroom, 2.5-bathroom. Exterior will receive fresh coat of paint, repairs to the roof, and new windows. Interior will see high end updates to the trim and finishes, new hardwood flooring, and the removal of wall between living room and dining room for open concept layout. Kitchen will be highlighted by new cabinets, new counter and backsplash, and mid-grade stainless steel appliances. Bathrooms will be completely replaced, with new toilet, vanities, tub, and tile floors. Project is expected to take four months with final sale occurring shortly after completion.