201-942-9089 info@abl1.net

Freeport NY Hard Money Loan For Fix And Flip

Address: Freeport, NY
Borrower Profile: Experienced Investor
Work Description: Gut Renovation Of Single Family Property
Purchase Price: $211,000
Renovation Budget: $90,000
Loan Amount: $255,000
Cash Available for Purchase: $165,000
Cash Available for Renovation: $90,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $400,000
Sale Price: $450,000
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Asset Based Lending financed a hard money loan for a repeat borrower and experienced investor looking to fix and flip a single family home in Nassau County, New York. The project was to be a complete gut renovation, requiring a $90,000 scope of work. In addition to completely overhauling the inside, the renovation plan includes replacing the roof, building a new deck in the backyard, and re-paving the driveway.


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