Situation:

Asset Based Lending recently funded a fix and flip hard money loan in Bridgewater MA. The borrower is a repeat borrower and highly experienced full-time real estate investor. The property was purchased for $274,000 with a renovation budget of $60,000 and total loan funded at 87% LTC. The property is a 3-bedroom, 2-bathroom single-family detached measured at 1,248 square feet. Rehab will focus primarily on the kitchen and bathrooms, with the kitchen receiving granite countertops, white shaker cabinets, tile backsplash, and new appliances. The bathrooms will receive tile showers, tile floors, granite vanities, and updated fixtures. Other updates include refinishing hardwood floors, updating to recessed lights, new roof, and fresh exterior paint. Renovation is expected to take approximately sixty days with final sale occurring within 120 days after completion.