Miami Gardens, FL New Construction
Address: Miami Gardens, FL
Borrower Profile: Seasoned investors in the Miami Dade area with experience building and selling single family homes.
Work Description: New construction of two lots in Miami Gardens FL
Purchase Price: $99,000
Renovation Budget: $220,000
Loan Amount: $270,000
Loan Structure: 12 months interest only
Loan Purpose: New Construction
ARV: $450,000
Situation:
Seasoned investors approached Asset Based Lending looking for a hard money loan to fund their new construction project. The investors purchased two lots in Miami Gardens, each with an After Repair Value of around $230,000.
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