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Tampa FL Hard Money Loan For Fix And Flip

Address: Tampa, FL
Borrower Profile: Repeat Borrower & Experienced Investor
Work Description: Fix & Flip - Single Family
Purchase Price: $250,000
Renovation Budget: $125,000
Loan Amount: $318,500
Cash Available for Purchase: $193,000
Cash Available for Renovation: $125,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $502,000
Situation:

Asset Based Lending recently financed a hard money fix and flip loan in Tampa, Florida. The investor is a repeat ABL borrower, and exceptionally experienced real estate investor in the Tampa area. The subject property is a 1,424 square foot single family home with 3 bedrooms and 1 bathroom. The $125,000 scope of work for renovations is extensive, and includes updating the floor plan, adding 500 square feet to the home, adding a new bedroom and bathroom, and other upgrades throughout the interior and exterior.

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