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Weston Fix & Flip Funded By FL Hard Money Lender

Address: Weston, FL
Borrower Profile: Experienced Investor & Repeat Borrower
Work Description: Gut Renovation - Single Family
Purchase Price: $403,000
Renovation Budget: $118,000
Loan Amount: $465,000
Cash Available for Purchase: $347,000
Cash Available for Renovation: $118,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $630,000
Situation:

Asset Based Lending recently funded a hard money loan for the purchase and rehab of a single family home in Weston, Florida. This repeat borrower and experienced investor found the property through a real estate agent, and purchased it partially completed from another flipper. The subject property is a 2,395 square foot single family home with 4 bedrooms and 3 bathrooms. The $118,000 scope of work for renovations includes gutting the kitchen and bathrooms, adding high-end finishes, and repairing the water damage throughout. ABL was able to fund this project at 74% LTV and 90% LTC.

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