201-942-9089 info@abl1.net

Fix And Flip Hard Money Loan In Hillsdale NJ

Address: Hillsdale, NJ
Borrower Profile: Experienced Investor, Builder, & Realtor
Work Description: Gut Renovation With Addition
Purchase Price: $342,000
Renovation Budget: $215,000
Loan Amount: $471,000
Cash Available for Purchase: $256,000
Cash Available for Renovation: $215,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $725,000

Situation:

This repeat borrower and extremely experienced fix and flip investor came to Asset Based Lending for a hard money loan to finance the purchase and renovation of a single family home in Hillsdale, NJ. The scope of work includes a gut renovation with high end finishes for a sleek design, as well as an addition to the home to add another bedroom as well as widen the kitchen and family room.