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Hamilton NJ Fix And Flip Hard Money Loan

Address: Hamilton, NJ
Borrower Profile: First Time Flipper
Work Description: Renovation Of Single Family Property
Purchase Price: $130,000
Renovation Budget: $53,000
Loan Amount: $154,000
Cash Available for Purchase: $101,000
Cash Available for Renovation: $53,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Property Purchase And Rehabilitation
ARV: $275,000
Sale Price: $294,000

Asset Based Lending recently funded a hard money fix and flip loan for the purchase and acquisition of a single family cape in Hamilton, New Jersey. The borrower, who found ABL through Google search, is an experienced contractor taking on his first flip for himself. The scope of work for the 1,334 square foot 4 bed/2 bath is a partial gut. The renovation includes updating the porch and patio, new walkway, fixing some water damage, new electric fixtures throughout, as well as gutting the bathrooms and kitchen. The investor also plans on doing minor demolition in the kitchen and living room for a more open floor plan.


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