Hollywood Florida Fix And Flip Loan
Address: Hollywood, FL
Borrower Profile: First-Time Borrower — Experienced Real Estate Investor
Work Description: Fix And Flip — Cosmetic Renovation
Purchase Price: $287,000
Renovation Budget: $40,200
Loan Amount: $262,000
Cash Available for Purchase: $262,000
Cash Available for Renovation: $40,200
Loan Structure: 12 months interest only
Loan Purpose: Property Purchase & Rehabilitation
ARV: $375,000
Situation:
Asset Based Lending recently funded a hard money fix and flip loan in Hollywood Florida. The borrower is a first-time borrower and experienced real estate investor. The property is a single-family 2-bedroom, 2-bathroom measured at 1,151 square feet. Property will receive new hurricane-proof impact windows, new roof, fenced backyard, and repairs to the existing porch along with various small cosmetic updates to the yard. Kitchen will be highlighted by new quartz countertops, wood cabinets, and stainless steel appliances. Bathrooms will receive new ceramic tile flooring and potentially updates to their piping. Project is expected to take approximately two months with final sale occurring shortly after completion.
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