Denville NJ Fix And Flip Hard Money Loan
Address: Denville, NJ
Borrower Profile: Experienced Investor
Work Description: Gut Renovation - Single Family
Purchase Price: $200,000
Renovation Budget: $70,000
Loan Amount: $229,000
Cash Available for Purchase: $159,000
Cash Available for Renovation: $70,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $385,000
Sale Price: $440,000
Exterior – Before
Exterior – After
Situation:
As part of a two-property blanket loan in Denville, NJ Asset Based Lending funded a hard money loan for the purchase and rehab of this single family investment property. These experienced real estate investors found the 1,200 square foot property on the MLS in need of $70,000 worth of rehab. The scope of work for this rehab is extensive, including adding a bedroom, installing a new roof and HVAC system, refinishing the floors, and gutting the kitchen and bathrooms.
Outcome:
Kitchen – Before
Bathroom – Before
Interior – Before
Kitchen – After
Bathroom – After
Interior – After
Get Started
