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Hard Money Fix and Flip Loan in Mahwah, New Jersey

Address: Mahwah, NJ
Borrower Profile: Experienced Investor
Purchase Price: $500,000
Renovation Budget: $113,000
Loan Amount: $503,000
Cash Available for Purchase: $390,000
Cash Available for Renovation: $113,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Property Purchase & Rehabilitation
ARV: $775,000

Situation:

This borrower has big plans for her New Jersey fix and flip, transforming the $500,000 single-family house into a $775,000 home. She won’t be skimping on rehabs, investing over $100,000 to make sure that this property reaches its full potential. The biggest undertaking will be the kitchen remodel, where our borrower will spend a total of $14,000 on cabinets, countertops, backsplash, plumbing, and electrical work. Additionally, the house will be sure to make a good first impression on potential buyers with its brand new, $3,000 front door!