Milwaukee Wisconsin Property Purchase and Rehab
Address: Milwaukee Wisconsin
Borrower Profile: First Time Borrower — General Contractor
Work Description: Fix and Flip — Single Family
Purchase Price: $115,000
Renovation Budget: $25,300
Loan Amount: $113,000
Cash Available for Purchase: $87,700
Cash Available for Renovation: $25,300
Loan Structure: 12 months interest only
Loan Purpose: Property Purchase & Rehabilitation
ARV: $186,000
Situation:
Asset Based Lending recently funded a hard money fix and flip loan in Milwaukee, Wisconsin. The borrower is a general contractor and a first time borrower with ABL. The property is 967 square feet with 3 bedrooms and 1 bathroom. Property was purchased for $115,000 with a renovation budget of $25,300. Renovation with the exterior will receive new floor tiles in the bathrooms, kitchen cabinets and appliances, and drywall in one bedroom. Exterior renovation will include landscaping. Timeline for the project is expected to take one to two months.
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