Fix & Flip Loan Funded By MD Hard Money Lender
Address: Annapolis, MD
Borrower Profile: Experienced Investor & Repeat Borrower
Work Description: Fix & Flip - Single Family
Purchase Price: $227,000
Renovation Budget: $86,000
Loan Amount: $281,000
Cash Available for Purchase: $195,000
Cash Available for Renovation: $86,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $397,000
Situation:
Asset Based Lending recently funded a hard money loan for a repeat borrower and experienced real estate investor in Annapolis, Maryland. This hard money fix and flip loan was funded at 90% of deal cost and 71% of ARV. The $86,000 scope of work is extensive and includes re-configuring the floorplan, adding a bedroom and bathroom, installing central air, replacing the roof and siding, as well as other upgrades throughout.
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