Situation:

Asset Based Lending recently funded a hard money fix and flip loan in Keene New Hampshire. The borrower is a repeat borrower and full-time real estate investor. The property was purchased for $550,000 with a renovation budget of $163,500 and total loan funded at 85% LTC. The property is a multi-family mixed-use with five residential units and two commercial units. The borrower will hold the property as an income producing asset through our rental refinance program. The residential units will receive new kitchens, baths, and flooring as well as updated lighting fixtures. One of the commercial units will be modernized. Project is expected to take six months.