Situation:

Asset Based Lending recently funded a hard money fix and flip loan for an experienced real estate investor and new ABL borrower in St. Petersburg, Florida—offering 90% of purchase as a part of ABL’s new high LTV loan program. This blanket loan is comprised of two detached single-family homes. After previous improvements, the scope of work for the 5 bed/2 bath includes appliance upgrades, a few cosmetic changes, and some urban agricultural development. The 4 bed/2 bath will receive appliance upgrades, new floors, and a new roof that the borrower is self-funding.