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Hard Money Fix And Flip Loan In Scotch Plains New Jersey

Address: Scotch Plains, NJ
Borrower Profile: Repeat Borrower & Experienced Investor
Work Description: Gut Renovation - Single Family
Purchase Price: $360,000
Renovation Budget: $70,000
Loan Amount: $387,000
Cash Available for Purchase: $317,000
Cash Available for Renovation: $70,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $535,000
Sale Price: $720,000
Time To Pay Off: 7 Months
Front – Before
Front – After


The borrower is a repeat borrower with ABL and an experienced real estate investor that purchased the property from an estate sale. As a full-time licensed general contractor who completed several homes in the nearby area, the borrower was comfortable managing the renovations from start to finish. The property is a single family 3-bedroom, 2.5-bathroom measured at 1412 square feet and underwent gut renovations to its kitchen and bathrooms. Interior rehab also included cosmetic changes such as new hardwood floors throughout the home, new moldings and doors, and upgrades to the lighting and outlets. Exterior upgrades were strictly cosmetic, with new vinyl siding, new gutters, new large windows, and new exterior doors. ABL funded this project with a 90% LTC hard money fix and flip loan. Renovations were expected to take 6 months.


The borrower did an outstanding job with the renovations, creating a beautiful piece of New Jersey real estate. The home sold for over 30% above the appraisal price- $720,000. The borrower paid off the loan after only 7 months without incurring a prepayment penalty and is already thinking about their next real estate investment with ABL.

Kitchen – Before
Bathroom – Before
Bedroom – Before
Kitchen – After
Bathroom – After
Bedroom – After