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Manchester New Hampshire Hard Money Fix And Flip Loan

Address: Manchester, NH
Borrower Profile: First-Time Borrower — Full-Time Real Estate Investor
Work Description: Cosmetic Renovation — Multifamily 12
Purchase Price: $1,000,000
Renovation Budget: $167,000
Loan Amount: $1,017,000
Cash Available for Purchase: $850,000
Cash Available for Renovation: $167,000
Loan Structure: 12 months interest only
Loan Purpose: Property Purchase & Rehabilitation
ARV: $1,875,000
Manchester NH fix and flip loan
New Hampshire hard money lender
Situation:

Asset Based Lending recently funded a hard money fix and flip loan in Manchester New Hampshire. The borrower is a repeat borrower and full-time real estate investor. The property was purchased for $1,000,000 with a renovation budget of $167,000 and total loan funded at 87% LTC. This loan covers the purchase of a 69-unit rental portfolio, with only 12 units receiving renovation. The borrower will hold this property as an income-producing asset with ABL’s rental refinance program. Rehab will be mostly cosmetic, bringing rental-level upgrades and finishes to the 12 affected units to increase rent roll. Project is expected to take approximately four months with rental refinance occurring shortly after completion.

Direct hard money lender New Hampshire
NH fix and flip
NH hard money loans
New Hampshire fix and flip loan