Cash Out And New Construction Hard Money Loan In Poinciana FL
Address: Poinciana, FL
Borrower Profile: Experienced Investor & Builder
Work Description: New Construction - Single Family
Purchase Price: $14,500
Renovation Budget: $137,400
Loan Amount: $117,000
Cash Available for Purchase: $7,000
Cash Available for Renovation: $110,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Cash Out & New Construction
ARV: $188,900
Situation:
Asset Based Lending recently financed a cash out and new construction hard money loan for an experienced builder in Poinciana, Florida. The real estate investor purchased the lot in cash, and came to ABL for the construction financing. The subject build will be a 1,680 sqft 3 bed / 2 bath single family home, expected to take 3-4 months to build and 2 months to sell.
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