Situation:

This licensed contractor came to Asset Based Lending for a hard money loan in order to purchase and rehab his second personal investment property. The scope of work for renovations, which the borrower will GC himself, includes cosmetic updates to the bathrooms and kitchens, as well as new flooring and updates to the electrical system. Since the investor intends to keep the property for rental income, ABL’s term refinance lending partner has already begun working on the lower interest rate takeout loan for once the rehab is complete.