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Elizabeth City North Carolina Fix And Flip Loan

Address: Elizabeth City, NC
Borrower Profile: Repeat Borrower — Experienced Real Estate Investor
Work Description: Cosmetic Renovation — Single-Family Detached
Purchase Price: $175,350
Renovation Budget: $57,068
Loan Amount: $206,000
Cash Available for Purchase: $206,000
Cash Available for Renovation: $57,068
Loan Structure: 12 months interest only
Loan Purpose: Property Purchase & Rehabilitation
ARV: $307,000
North Carolina fix and flip loan
Elizabeth City hard money lender
Situation:

Asset Based Lending recently funded a hard money fix and flip loan in Elizabeth City North Carolina. The borrower is a repeat borrower and experienced real estate investor. The property was purchased for $175,350 with a renovation budget of $57,068 for a total loan amount of $206,000. The property is a single-family 4-bedroom, 2-bathroom measured at 1,951 square feet. Renovation will be strictly cosmetic with updates to the interior paint and flooring, along with new appliances for the kitchen and a new HVAC unit for the home. Exterior will receive updated landscaping. Project is expected to take three months with final sale occurring shortly after completion.

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