Asset Based Lending recently funded a hard money fix and flip loan in Bronx New York. The borrower is a first-time borrower and experienced real estate investor. The property was purchased for $350,000 with a renovation budget of $163,300 and total loan funded at 90% LTC. The property is a three-unit multifamily with each unit being a 3-bedroom, 1-bathroom measured at a combined 3,129 square feet. The borrower plans on holding the property as an income-producing asset with ABL’s rental refinance program. This gut renovation will focus primarily on the kitchens and bathrooms, with the kitchens receiving new countertops, cabinets, and stainless steel appliances. The bathrooms will have their vanities replaced along with new tubs and toilets. Other upgrades will include new crystal windows, hardwood floors throughout, new interior doors, and fresh coat of paint. Project is expected to take three months with loan refinancing occurring shortly after completion.