201-942-9089 info@abl1.net

Riverdale, Georgia Fix And Flip Loan

Address: Riverdale, Georgia
Borrower Profile: First Time Borrower — New Real Estate Investor
Work Description: Cosmetic Renovation — Single Family
Purchase Price: $205,000
Renovation Budget: $30,000
Loan Amount: $184,000
Cash Available for Purchase: $154,000
Cash Available for Renovation: $30,000
Loan Structure: 12 months interest only
Loan Purpose: Property Purchase & Rehabilitation
ARV: $310,000
GA Hard Money Rehab Loan
Hard Money Georgia Renovation Loan

Asset Based Lending recently funded a hard money fix and flip loan in Riverdale Georgia. These real estate investing partners are first-time borrowers with ABL and working on their first investment project. The property purchased is a 3-bedroom, 2.5-bathroom, 1800 square foot single-family in pre-foreclosure. The scope of work is cosmetic and focused on creating a modern and updated kitchen with new granite countertops, cabinets, and stainless-steel appliances. Although these borrowers are new to real estate investing, they are general contractors with experience in renovating homes in the Atlanta metro area and were great candidates for ABL’s fix and flip loan. Beyond the kitchen renovations, this home will be finished with new bathroom tiles, updated fixtures, and new paint throughout the property. This project is expected to take upwards of three months at which time the property will be listed for final sale.

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