Florida Hard Money Lender – Cape Coral Construction Loan
Address: Cape Coral, FL
Borrower Profile: Experienced Investor & Builder
Work Description: New Construction - Single Family
Purchase Price: $70,000
Renovation Budget: $300,000
Loan Amount: $300,000
Cash Available for Purchase: $0
Cash Available for Renovation: $300,000
Loan Structure: 12 Months Interest Only
Loan Purpose: New Construction
ARV: $555,000
Situation:
Asset Based Lending recently funded a hard money construction loan for an experienced investor and repeat borrower in Cape Coral, Florida. The subject build will be a 3/3/2 located on the canal with a great room and a study. The property will have a total of 3390 sq ft with approximately 2377 sq ft under air. This lot was purchased for $70K cash less than a year ago, and will take about $300,000 to build.
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