201-942-9089 info@abl1.net

Sharpsburg North Carolina Stabilized Bridge Loan

Address: Sharpsburg, NC
Borrower Profile: First Time Borrower — Experienced Real Estate Investor
Work Description: No Renovation — Stabilized Property
Purchase Price: $1,000,000
Renovation Budget: $0
Loan Amount: $700,000
Cash Available for Purchase: $700,000
Cash Available for Renovation: $0
Loan Structure: 24 months interest only
Loan Purpose: Stabilized Bridge Purchase
ARV: $1,000,000 (As-Is)

Asset Based Lending recently funded a hard money stabilized bridge loan in Sharpsburg North Carolina. The borrower is a first-time borrower and experienced portfolio investor that focuses on buy & hold rental property. This borrower specializes in affordable rental property and keeps their prices a little behind market rents to maintain long term tenants. The properties being financed are four quadraplexes on one parcel of land, with identical units of 2-bedroom, 1-bathrooms. Each unit is currently occupied with a leased tenant. The borrower’s exit strategy is to refinance once market rates stabilize in their favor and hold these units as part of their rental portfolio.