Hard Money Construction Loan In Cape Coral Florida
Address: Cape Coral, FL
Borrower Profile: Repeat Borrower & Experienced Investor
Work Description: New Construction - Single Family
Purchase Price: $35,000
Renovation Budget: $264,000 (Construction)
Loan Amount: $249,000
Cash Available for Purchase: $10,000
Cash Available for Renovation: $229,000 (Construction)
Loan Structure: 12 Months Interest Only
Loan Purpose: New Construction
ARV: $409,000
Situation:
Asset Based Lending recently funded a hard money loan for the new construction of a single family home in Cape Coral, Florida. The investor is an experienced real estate investor and repeat borrower with ABL. The subject build will be a 2,783 square foot home with 4 bedrooms and 3 bathrooms. The borrower is exceptionally experienced in this neighborhood, completing several builds on the same street and owning additional lots.
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