Asset Based Lending recently funded a hard money fix and flip loan in Pittsburgh Pennsylvania. The borrower is a first-time borrower and full-time real estate investor. The property was purchased for $140,000 with a renovation budget of $100,000 with total loan funded at 85% LTC. Borrower plans on holding the property as an income-producing asset with ABL’s rental refinance program. The property is a four-unit multifamily with each unit being 1-bedroom, 1-bathroom measured at approximately 600 square feet each. Each unit will undergo full gut renovation including new vinyl plank flooring, upgraded bathrooms, new HVAC system, plumbing updates, and more. There will be new kitchens for each unit that will be highlighted by rental grade finishes, shaker cabinets, granite countertops, and stainless steel appliances. The property exterior will have new windows installed and repairs to the outdoor balcony. Project is expected to take between five and six months with loan refinance occurring shortly after renovation is complete.