Situation:

Asset Based Lending recently funded a hard money fix and flip loan in Littleton, MA. The borrower is a repeat borrower and experienced real estate investor. The property was purchased for $235,000 with a renovation budget of $160,000 and total loan funded at nearly 90% LTC and 71% LTV. This property is single-family 3-bedroom, 1.5-bathroom measured at 1,140 square feet. Rehab will be focused primarily on the kitchen and baths, including gut renovation to the interior. Kitchen will receive new white shaker cabinets, granite countertop, and stainless-steel appliance package. Bath will receive stand-up fiberglass shower and tile floor. Work is expected to take three months with final sale occurring within one month of project completion.