Fix And Flip Loan In Panama City Florida
Address: Panama City, FL
Borrower Profile: Repeat Borrower
Work Description: Gut Renovation - Single Family
Purchase Price: $65,000
Renovation Budget: $60,000
Loan Amount: $100,000
Cash Available for Purchase: $40,000
Cash Available for Renovation: $60,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $175,000
Situation:
Asset Based Lending recently funded a hard money loan for a fix and flip project in Panama City, Florida. On their 2nd deal with us, these investors are buying a 3 bedroom 1 bathroom single family home spanning approximated 1,014 square feet. The $60,000 scope of work is extensive for this home, including a full interior gut renovation and the addition of a new bathroom.
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