Philadelphia PA Hard Money Loan For Fix And Flip
Address: Philadelphia, PA
Work Description: Gut Renovation - Single Family
Purchase Price: $75,000
Renovation Budget: $86,000
Loan Amount: $128,000
Cash Available for Purchase: $42,000
Cash Available for Renovation: $86,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $225,000
Situation:
Asset Based Lending recently funded a hard money fix and flip loan for a real estate investment project in Philadelphia, PA. The $86,000 scope of work for renovations includes a full gut to the studs due to the prior fire damage. In addition to the complete interior rehab, the investor will be adding an additional half bathroom and replacing the roof as well as all HVAC, plumbing, and electrical systems.
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