Easton, Pennsylvania Fix And Flip Loan
Address: Easton, Pennsylvania
Borrower Profile: Repeat Borrower — Experienced Real Estate Investors
Work Description: Fix and Flip — Single Family
Purchase Price: $135,000
Renovation Budget: $87,500
Loan Amount: $200,000
Cash Available for Purchase: $112,500
Cash Available for Renovation: $87,500
Loan Structure: 12 months interest only
Loan Purpose: Property Purchase & Rehabilitation
ARV: $300,000
Situation:
Asset Based Lending recently funded a hard fix and flip loan in Easton Pennsylvania. The borrower is a fourth time repeat borrower and an experienced real estate investor. The property was a 2-unit multi-family measured at 1,938 square feet total. The property was purchased for $135,000 with a renovation budget of $87,500 and a total loan cost at 89%. Borrower plans on holding the property as an income-producing asset with ABL’s rental refinance program. Renovation of the exterior will include a new roof, new paint, and upgraded electrical and materials. The interior will receive a full remodel in the kitchen and bathroom, with new doors and paint interior. Project is expected to take three to four months.
Get Started