Florida Hard Money Loan For Cash Out
Address: Cape Coral, FL
Borrower Profile: Experienced Investor & Repeat Borrower
Work Description: New Construction - Single Family
Purchase Price: $31,935
Renovation Budget: $184,650 (Construction)
Loan Amount: $162,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Cash Out
ARV: $249,000 (As-is)
Situation:
Asset Based Lending recently funded a hard money loan for cash out to complete a new construction project in Cape Coral, Florida. The experienced investors are also repeat ABL borrowers, and are coming to ABL to pull cash out of an 80% complete project in order to finance the launch of another deal. The subject property is a 4 bed / 2 bath 1,829 sqft single family with vaulted ceilings and upgraded finishes.
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