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Fix And Flip Loan In Patterson New Jersey

Address: Patterson, NJ
Purchase Price: $115,000
Renovation Budget:
Loan Amount: $124,000
Cash Available for Purchase: $84,000
Cash Available for Renovation: $40,000
Loan Structure: 12 months interest only
Loan Purpose: Property Purchase And Rehabilitation
ARV: $220,000

Situation:

Asset Based Lending recently closed a $124,000 hard money loan for a 2 family fix and flip deal in Patterson, NJ. The scope of work for rehab includes demo for two kitchens and two bathrooms as well as new flooring and paint throughout. These investors also plan to finish the basement while adding a large rec room! Stay tuned to see how this property turns out!