Situation:

Asset Based Lending recently funded a hard money loan for the purchase and rehab of a single family home in Weston, Florida. This repeat borrower and experienced investor found the property through a real estate agent, and purchased it partially completed from another flipper. The subject property is a 2,395 square foot single family home with 4 bedrooms and 3 bathrooms. The $118,000 scope of work for renovations includes gutting the kitchen and bathrooms, adding high-end finishes, and repairing the water damage throughout. ABL was able to fund this project at 74% LTV and 90% LTC.