fix and flip investment properties

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Randolph MA Fix And Flip Hard Money Loan

Address: Randolph, MA
Borrower Profile: Repeat Borrower & Experienced Investor
Work Description: Fix & Flip - Single Family
Purchase Price: $228,000
Renovation Budget: $45,000
Loan Amount: $238,800
Cash Available for Purchase: $193,800
Cash Available for Renovation: $45,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $347,000
Situation:

Asset Based Lending recently funded a fix and flip hard money loan in Randolph MA. The borrower is a repeat borrower and experienced investor. The property was purchased for $228,000 with a renovation budget of $45,000 and total loan funded at 87% LTC. The property is a 2-bedroom, 2-bathroom measured at 1,392 square feet. Interior renovation will include remodeling of kitchen and bathrooms, new appliances, new kitchen floors, refinish of hardwood floors throughout, new doors, and repairing the boiler. Exterior updates will include new roof, power washing, fresh coat of paint, and cleaning up of landscape. The project is expected to take approximately 60 days with final sale occurring within 120 days of completion.

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