201-942-9089 [email protected]

Hard Money Loan For Cash Out And Rehab In St Petersburg FL

Address: St. Petersburg, FL
Borrower Profile: Experienced Investor
Work Description: Fix & Flip - Single Family
Purchase Price: $68,280
Renovation Budget: $68,277
Loan Amount: $109,000
Cash Available for Purchase: $35,000 (Cash Out)
Cash Available for Renovation: $68,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Cash Out And Rehabilitation
ARV: $210,000
Florida hard money lenders

Situation:

Asset Based Lending recently funded a hard money loan in St Petersburg, Florida for an experienced investor using ABL for the first time. The investor purchased the property in 2019 for $68,500 cash, and has since invested approximately $32,000 into the renovation. The subject property, a 1,158 square foot single family, is being converted from a 3 bed with 1.5 bathrooms to a 3 bed with 2 bathrooms, and needs $68,000 in rehab. The scope of work includes exterior cosmetic work, taking down a wall to open the floor plan, updating the bathrooms, completely gutting the kitchen, installing new floors throughout, and updating the entire electrical system.

best hard money lenders Florida
Private hard money lenders FL
Hard money loans FL