Baltimore City MD Fix And Flip
Address: Baltimore City, MD
Borrower Profile: Experienced investor and flipper
Work Description: Substantial renovation of a single family attached row house in a developing neighborhood in downtown Baltimore
Purchase Price: $80,000
Renovation Budget: $63,000
Loan Amount: $112,000
Cash Available for Purchase: $49,000
Cash Available for Renovation: $63,000
Loan Structure: 12 months interest only
Loan Purpose: Property Purchase and Rehabilitation
ARV: $216,000
Sale Price: $199,900
Time To Pay Off: 10 months
Living Room Before
Living Room After
Situation:
The borrower met ABL at a Philadelphia REIA event. Despite some of problems occurring in the Baltimore area, ABL agreed to move forward on the loan because of the strong background, experience level of the borrower, as well as a very attractive purchase price.
Outcome:
The project was completed with a very high level of workmanship in the expected amount of time with full permits and approval paperwork. The property is listed and has undergone one price reduction.
Upstairs Before
Upstairs After
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