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Fix And Flip In Maplewood NJ Funded By Hard Money Lender

Address: Maplewood, NJ
Borrower Profile: Experienced Investor
Work Description: Gut Renovation - Single Family
Purchase Price: $353,000
Renovation Budget: $105,000
Loan Amount: $412,000
Cash Available for Purchase: $307,000
Cash Available for Renovation: $105,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $642,000
Situation:

Asset Based Lending recently funded a hard money loan for a fix and flip project in Maplewood, New Jersey. The subject property is a 2,550 square foot multi family home with 7 bedrooms and 5 bathrooms, in need of $105,000 in renovation. The investor plans to convert the MF2 into a single family home, gut the kitchen and bathrooms, replace the flooring and lighting, as well as other substantial upgrades throughout.

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