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Hendersonville North Carolina Fix And Flip Loan

Address: Henderson, North Carolina
Borrower Profile: First Time Borrower — Newer Real Estate Investor
Work Description: Gut Renovation — Single Family
Purchase Price: $120,000
Renovation Budget: $70,000
Loan Amount: $154,000
Cash Available for Purchase: $154,000
Cash Available for Renovation: $70,000
Loan Structure: 12 months interest only
Loan Purpose: Property Purchase & Rehabilitation
ARV: $257,000
North Carolina fix and flip loan
Hendersonville North Carolina fix and flip
Situation:

Asset Based Lending recently funded a hard money fix and flip loan in Hendersonville North Carolina. The borrower is a first-time borrower with ABL and newer real estate investor. The property is a single family 3-bedroom, 2-bathroom measured at 1,600 square feet. Property interior will undergo gut renovation with an emphasis on the kitchen and bathrooms. Kitchen will be completely updated with new cabinets, counters, kitchen island, and stainless steel appliances. Bathrooms will receive new vanities, tubs, sinks, toilets, and fixtures. Other updates to the property include upgraded plumbing and electrical, new HVAC system, new lighting fixtures, new double hung windows, new exterior vinyl siding, and new LVP floors throughout. The project is expected to take two months with final sale occurring shortly after completion.

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