fix and flip investment properties

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Fix And Flip Funded By NY Hard Money Lender

Address: Merrick, NY
Borrower Profile: Experienced Investor & Contractor
Work Description: Gut Renovation Of Single Family Property
Purchase Price: $320,000
Renovation Budget: $170,000
Loan Amount: $390,000
Cash Available for Purchase: $220,000
Cash Available for Renovation: $170,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $690,000
Situation:

Asset Based Lending recently funded a hard money fix and flip loan for an extensive renovation project in Merrick, New York. The current property is a detached cape style single family with 4 beds and 1.5 bath covering about 1135 square feet. The scope of work for this project involves adding an additional 1100 square feet to the property, including a new bathroom and enlarged master bedroom.

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