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Hard Money Fix And Flip Loan In Irvington New Jersey

Address: Irvington, NJ
Borrower Profile: Repeat Borrower & Experienced Investor
Work Description: Fix & Flip - Single Family
Purchase Price: $120,000
Renovation Budget: $55,000
Loan Amount: $148,000
Cash Available for Purchase: $85,600
Cash Available for Renovation: $55,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $254,000
Situation:

Asset Based Lending recently funded a hard money fix and flip loan in Irvington, NJ for a team of experienced real estate investors and repeat borrowers. The subject property is a 1512 square foot single family with 3 beds and 1 bath, and was found through the investor’s marketing efforts. The $55,000 scope of work for renovations includes opening the floor plan on the first floor, upgrading plumbing and electrical systems, gutting the kitchen and bathroom, new flooring and paint throughout, as well as other cosmetic improvements.

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