Denville NJ Fix And Flip Loan Funded By Hard Money Lender
Address: Denville, NJ
Borrower Profile: Repeat Borrower
Purchase Price: $180,000
Renovation Budget: $50,000
Loan Amount: $194,000
Cash Available for Purchase: $144,000
Cash Available for Renovation: $50,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $345,000
Situation:
Asset Based Lending recently funded a hard money fix and flip loan for a repeat borrower and experienced investor in Denville, NJ. This 1,224 square foot REO property is close to shopping and schools, and already has a semi-finished basement. The scope of work for renovations includes gutting the kitchen and bathrooms as well as replacing the flooring and adding air conditioning.
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