Situation:

Asset Based Lending recently funded a hard money fix and flip loan in Nashua New Hampshire. The borrower is a highly experienced real estate investor that has worked with ABL on several previous deals. The property was purchased for $280,000 with a renovation budget of $25,000 and total loan funded at 80% LTC. This single-family detached is a 3-bedroom, 1-bathroom measured at 1,078 square feet. Renovation focus will be on kitchen remodeling and interior cosmetic upgrades. Kitchen remodeling will include new cabinets, granite countertops, and stainless-steel appliances. Cosmetic upgrades will include hardwood floors throughout the property, fresh paint, and a minor bath remodel. Renovation is expected to take approximately 30 days with final sale occurring another 30 days after completion.