201-942-9089 info@abl1.net

Scotch Plains, New Jersey Property Purchase and Rehabilitation

Address: Scotch Plains, New Jersey
Purchase Price: $232,500
Renovation Budget: $85,000
Loan Amount: $269,000
Cash Available for Purchase: $184,000
Cash Available for Renovation: $85,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Property Purchase and Rehabilitation
ARV: $438,000

Situation:

Two experienced investors came to ABL looking for a hard money fix and flip loan for a property in Scotch Plains, New Jersey. This investment requires a full renovation package. The investors decided to keep the existing structure of the house while opting for a full interior renovation. The scope of work includes complete bathroom and kitchen rehabs with all new electrical wiring and plumbing. Contractors will have to install new sheetrock and cover the walls with a fresh set of paint. The exterior requires new siding and a new roof. We can’t wait to check in on the progress of this fix and flip and to help our investors along the way!