Asset Based Lending recently funded a hard money fix and flip loan to a first time borrower in Pawtucket Rhode Island. The borrower purchased a mixed use property that consisted of one commercial space and two residential units. Plans for this property include converting the residential units from two to three units where one will be three bedrooms and two bathrooms, another will be two bedrooms and one bathroom, and the final space will be one bedroom and one bathroom. The entire property will be gut renovated and finished with rental grade fixture, granite countertops, new tile in all bathrooms, and the borrowers will attempt to salvage the original wood flooring throughout the property. Each unit will generate rental income totaling $6,400 as each unit is priced in line with the average rent in Pawtucket. The end buyer for this property has already been identified and they are a small business owner who will operate out of the commercial space and rent the residential units for passive income.