fix and flip investment properties

Case Studies

Prequalify Today
Back to All Case Studies

Center Moriches NY Fix And Flip Loan

Address: Center Moriches, NY
Borrower Profile: First Time Borrower, Experienced Investor
Work Description: Fix & Flip - Single Family
Purchase Price: $350,000
Renovation Budget: $112,000
Loan Amount: $390,000
Cash Available for Purchase: $278,000
Cash Available for Renovation: $112,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $600,000

Asset Based Lending recently funded a hard money fix and flip loan in Center Moriches NY for a new borrower with 15 years of real estate experience. The property was purchased for $350,000 with a renovation budget of $112,000 and a total loan funded at nearly 85% LTC. The property is a single-family home measured at 2500 square feet with a 600 square foot basement. The house features 5-bedrooms and 2.5-baths. It was purchased as a foreclosure and will be undergoing extensive gut renovations that will transform the home into a 4-bedroom, 3.5-bath with the same square footage. Removing the bedroom will allow installation of a master bathroom and closet area. Kitchen will also undergo gut renovations with new floors, appliances, trim, etc. under the same blueprint. Renovations will also include cosmetic updates throughout the house- new wood floors, fresh paint, new siding, clean landscaping, and other visual upgrades.

New York private hard money lenders
Hard money lending NY
NY direct private lenders
hard money lenders on Long Island
Fix and flip loans Long Island
Long Island hard money lender
Prequalify For A Hard Money Loan Today
Get Started