Situation:

Asset Based Lending recently financed a cash out and new construction hard money loan for a repeat borrower and experienced builder in West Park, Florida. After purchasing the property in cash on his own, the investor came to ABL seeking to pull some cash out from his purchase as well as finance the construction for the current project. The subject property will be a 2,488 square foot single family home with 3 bedrooms, 2 bathrooms, and a 1 car garage. The home will feature contemporary look with formal living and dining rooms, an open kitchen with a large island, and a large master bedrooms with a walk-in closet. The home will also feature a bonus room to be used for a gym or media room.