Situation:

Asset Based Lending recently funded a property purchase hard money loan in Riverview Florida. The borrower is a first-time borrower that is a full-time real estate investor. The property was purchased for $372,500 with an estimated as-is value of $450,000. The property is a single-family 4-bedroom, 2.5-bathroom measured at 3,572 square feet. Borrower is planning to either sell the property for a profit or hold it as an income-producing asset with our rental refinance program.