St Petersburg Florida Hard Money Construction Loan
Address: St Petersburg, FL
Borrower Profile: Experienced Investor & Builder
Work Description: Single Family Construction
Purchase Price: $100,000
Renovation Budget: $210,000 (Construction)
Loan Amount: $248,000
Cash Available for Purchase: $23,000
Cash Available for Renovation: $210,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Cash Out And New Construction
ARV: $407,000
Situation:
This experienced builder came to Asset Based Lending 2 months after purchasing a lot, looking for the construction funds to finance his project in St Petersburg Florida. The finished home will be a 4 bedroom, 3 bathroom, 2,100 square foot single family property, 15 minutes from downtown Tampa. The builder anticipates the construction to be complete within 3 months. We cant wait to see how this Floida new construction project turns out!
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