Capitol Heights Maryland Property Purchase Hard Money Loan

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Address: Capitol Heights, MD

Borrower Profile: First Time Borrower, Experienced Investor

Work Description: No Renovation - Single Family

Purchase Price: $248,000

Renovation Budget: $0

Loan Amount: $160,000

Cash Available for Purchase: $160,000

Cash Available for Renovation:

Loan Structure: 12 Months Interest Only

Loan Purpose: Property Purchase Only

ARV: $278,000 (As Is)

Situation:

Asset Based Lending recently funded a property purchase hard money loan in Capitol Heights Maryland. The borrower is a first-time borrower that is an experienced real estate investor. The property was purchased for $248,000 with an as-is value of $278,000. The property is a single-family 3-bedroom, 4-bathroom measured at 1,485 square feet. Borrower is expected to sell the property at a profit within 2 months of deal closing.