Hard Money Cash Out And Rehab Loan In Philadelphia PA
Address: Philadelphia, PA
Borrower Profile: First Time Investor
Work Description: Fix & Flip - Single Family
Purchase Price: $20,000
Renovation Budget: $60,000
Loan Amount: $80,000
Cash Available for Purchase: $15,200
Cash Available for Renovation: $60,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Cash Out And Rehabilitation
ARV: $165,000
Situation:
Asset Based Lending recently funded a cash out and rehab hard money loan in Philadelphia PA for a US Veteran who purchased the property cash in 2004. The subject property is a 926 square foot single family home in need of $60,000 worth of renovations. The scope of work for rehab includes new exterior finishing, repairing a leak in the roof, gutting the kitchen and bathrooms, installing new HVAC and plumbing, as well as adding a bedroom.
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