Hard Money Loan For Fix And Flip In Annapolis Maryland
Address: Annapolis, MD
Borrower Profile: Experienced Investor
Work Description: Fix & Flip - Single Family
Purchase Price: $256,000
Renovation Budget: $23,000
Loan Amount: $222,000
Cash Available for Purchase: 199,000
Cash Available for Renovation: $23,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $342,000
Sale Price:
Time To Pay Off:
Situation:
Asset Based Lending recently funded a hard money loan for a fix and flip project in Annapolis, Maryland. The borrower is a retired Military officer, prolific construction project manager, real estate broker, and fix and flip investor. The 1900 sqft 3 bedroom home is in need of minor repairs; the $23,000 scope of work includes modernization of the interior, paint, and other cosmetic upgrades throughout.
Outcome:
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