fix and flip investment properties

Case Studies

Prequalify Today
Back to All Case Studies

Brigantine NJ Fix And Flip Loan

Address: Brigantine, NJ
Borrower Profile: Repeat Borrower & Experienced Investor
Work Description: Condo Conversion - 4 Unit
Purchase Price: $565,000
Renovation Budget: $225,000
Loan Amount: $671,000
Cash Available for Purchase: $446,000
Cash Available for Renovation: $225,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $1,240,000
Situation:

Asset Based Lending recently funded a hard money fix and flip loan in Brigantine, NJ for a repeat borrower with extensive real estate investing experience. The property was purchased for $565,000 with a renovation budget of $225,000 and a total loan funded at nearly 85% LTC. The borrower is a general contractor that will be completing the renovations themselves. The property is a four-unit multi-family that will be converted to condominiums with three units being 2-bedroom, 1-bathroom measured at 1,000 square feet while the fourth unit is 3-bedroom, 1-bathroom measured at 1,200 square feet. Kitchens and bathrooms in each unit will undergo gut renovations with high-end finishes. Each unit will receive updated windows and HVAC will be installed in the one unit missing it. Exterior renovations include replacing the siding for the top half of the property and new matching roof. Total renovation time is expected to take approximately six months.

hard money lenders for fix and flips in NJ
hard money lending NJ
New Jersey hard money lenders
hard money loans in NJ
Prequalify For A Hard Money Loan Today
Get Started
Menu