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Fix and Flip Loan In Clifton New Jersey

Address: Clifton, NJ
Borrower Profile: Experienced Investor & Contractor
Purchase Price: $205,000
Renovation Budget: $40,000
Loan Amount: $224,000
Cash Available for Purchase: $184,000
Cash Available for Renovation: $40,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Property Purchase and Rehabilitation
ARV: $350,000

Situation:

At ABL, we pride ourselves on repeat business. This experienced and repeat borrower came to us seeking a hard money fix and flip loan for a property in Clifton, New Jersey. This investor also happens to be a contractor, so keeping to his plan should be a breeze! The scope of work calls for new siding, awnings, and a roof. On the interior, he plans to update both the kitchen and bathrooms, lay down new flooring, and coat the walls with a fresh layer of neutral paint. The renovations should take only 60 days and the investor hopes to flip the property quickly and for a nice profit!