Situation:

Asset Based Lending recently funded a hard money loan for a fix and flip project in Philadelphia, PA. The investor is an experienced investor and repeat borrower on his 4th deal with ABL. The subject property is a 1,536 square foot 3 bed /3 bath attached single family home. The $58,000 scope of work for renovation includes replacing all windows, painting, gutting and finishing the basement, installing new HVAC and electrical systems, adding a half bathroom, opening up the floor plan, and gutting the kitchen.