Milford, CT Fix And Flip Loan
Address: Milford, CT
Borrower Profile: Experienced Investors
Work Description: Gut Renovation Of Single Family House
Purchase Price: $68,000
Renovation Budget: $104,000
Loan Amount: $146,000
Cash Available for Purchase: $42,000
Cash Available for Renovation: $104,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Property Purchase And Rehabilitation
ARV: $250,000
Sale Price: $289,000
Exterior – Before
Exterior – After
Situation:
These investors found ABL after meeting our Connecticut Loan Officer at a real estate investor meetup event in Southern Connecticut. The borrowers came to Asset Based Lending for a hard money fix and flip loan in order to buy this Milford, Connecticut property out of foreclosure. Though purchased fairly cheap, this fix and flip calls for an extensive gut renovation and a $104,000 rehab budget.
Outcome:
Before
After
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