Huntington, NY Fix And Flip Funded By Hard Money Lender
Address: Huntington, NY
Borrower Profile: Experienced Investor & Repeat Borrower
Work Description: Gut Renovation - Single Family
Purchase Price: $500,000
Renovation Budget: $96,500
Loan Amount: $536,000
Cash Available for Purchase: $439,500
Cash Available for Renovation: $96,500
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $850,000
Sale Price: $1,079,000 (Listed)
Front – Before
Front – After
Situation:
Asset Based Lending funded a hard money loan for the purchase and rehab of a single family home in Huntington, New York. The investor is a repeat borrower and experienced investor who found the property through his local network of wholesalers. The subject property is a 2,600 square foot 4 bed / 3 bath home on 1 acre in need of roughly $96,000 in renovations. The $96,000 scope of work for this fix and flip includes pool repairs, finishing the basement, installing new HVAC and electrical systems, gutting the kitchen and bathrooms, as well as new flooring throughout.
Outcome:
Rear – Before
Kitchen – Before
Living Room – Before
Bathroom – Before
Rear – After
Kitchen – After
Living Room – After
Bathroom – After
Get Started
