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Cash Out And Construction Loan In Freehold New Jersey

Address: Freehold, NJ
Borrower Profile: Professional Builder And Investor
Purchase Price: $140,000
Renovation Budget: $491,972
Loan Amount: $504,000
Cash Available for Purchase: $12,028 (Cash Out)
Cash Available for Renovation: $491,972
Loan Structure: 12 Months Interest Only
Loan Purpose: Cash Out And New Construction
ARV: $865,000

Situation:

This experienced real estate investor and builder came to Asset Based Lending for a hard money new construction loan in order to build a 5-bed 3.5 bath 4,000 square-foot single family home in Freehold NJ. This investor has built several identical properties in the area (including the lot next door!), all with high end finishes that end up selling in less than 30 days. We can’t wait to see the finished project!