201-942-9089 info@abl1.net

Hard Money Fix and Flip Loan in Plainview, New York

Address: Plainview, NY
Borrower Profile: Experienced Investor, Builder, and Licensed Electrician
Purchase Price: $450,000
Renovation Budget: $250,000
Loan Amount: $568,000
Cash Available for Purchase: $318,000
Cash Available for Renovation: $250,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Property Purchase & Rehabilitation
ARV: $910,000

Situation:

This borrower is a jack of all trades and is well equipped to rehabilitate a single family home like this New York property. His multi-faceted abilities as investor, builder, and electrician will allow him to turn a $250,000 rehab budget into a $460,000 increase in the two-story home’s value. He has planned his renovation in detail, down to the paint selection – Benjamin Moore Ultra spec. in Eggshell. This home will undergo a major transformation and our borrower will end up with a home worth nearly a million dollars if he sticks to budget and schedule, which we fully expect him to do. We’re excited to see all this investor’s hard work pay off!