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Property Rehabilitation Hard Money Loan In Delaware

Address: Wilmington, DE
Borrower Profile: Professional real estate investor
Work Description: Rehab only
Purchase Price: $200,000 (cash)
Renovation Budget: $175,000
Loan Amount: $175,000
Loan Structure: 12 months interest only
Loan Purpose: Property Rehabilitation
ARV: $660,000
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Hard money loan in wilmington delaware

Situation:

This borrower is a professional real estate investor with an in-house crew that specializes in gut renovations. Asset Based Lending originated a hard money loan for the rehab costs of the project. The scope of work for the project is extensive and includes: interior and exterior demolition, new paint and finishes, upgraded flooring throughout, and repairs to the damaged roof.

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