Cash Out And Construction Hard Money Loan In Jupiter FL
Address: Jupiter, FL
Borrower Profile: Experienced Investor & Builder
Purchase Price: $500,000
Renovation Budget: $900,000
Loan Amount: $950,000
Cash Available for Purchase: $50,000 (Cash Out)
Cash Available for Renovation: $900,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Cash Out & New Construction
ARV: $1,800,000
Situation:
Asset Based Lending recently funded a cash out and new construction hard money loan for a real estate investor in Jupiter, Florida. The borrower purchased this 10 acre lot in cash over a year ago, and came to ABL in order to pull some cash out of the equity and fund the renovations. The finished property will be almost 8,500 square feet of living space, plus approximately 6,100 square feet of porch and garage space.
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