PA Hard Money Lender – Philadelphia Cash Out & Rehab
Address: Philadelphia, PA
Borrower Profile: Experienced Investor
Work Description: Fix & Flip - Duplex
Purchase Price: $58,000
Renovation Budget: $62,000
Loan Amount: $96,000
Cash Available for Purchase: $34,000 (Cash Out)
Cash Available for Renovation: $62,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Cash Out & Rehabilitation
ARV: $165,000
Situation:
Asset Based Lending recently funded a cash out and rehab hard money loan for an experienced investor in Philadelphia. The borrower purchased the 3,000 sqft duplex in cash and has already invested several thousand dollars into the rehab. The hard money loan is to reimburse the borrower for some of the cash invested as well as provide the necessary funds for the remainder of the rehab.
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