Situation:

Asset Based Lending recently financed a hard money loan for a fix and flip project in Milford, Connecticut. The investor is a multiple-time repeat borrower with ABL, and is purchasing a 1,400 square foot single family cape in a great neighborhood near the park, river, and Long Island Sound. The subject property is a 3 bed 2 bath home with a 1 car garage in need of $62,000 worth of renovations. The scope of work for rehab includes new windows and gutters, roof repairs, replacing the HVAC system, gutting the kitchen and bathrooms, installing new hardwood floors, as well as new electrical outlets and fixtures throughout.