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Hard Money Fix Flip Loan In Central Islip, NY

Address: Central Islip, NY
Borrower Profile: Experienced Investor
Work Description: Fix & Flip – Single-Family
Purchase Price: $225,000
Renovation Budget: $103,000
Loan Amount: $276,000
Cash Available for Purchase: $173,000
Cash Available for Renovation: $103,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $450,000

Situation:

Asset Based Lending recently funded a hard money fix and flip loan for an experienced real estate investor in Central Islip, New York—covering 100% of of the $103,000 renovation budget. This 6,000 square foot single-family property has 6 bedrooms and 4 bathrooms. This gut to the studs renovation will include roofing and siding, as well as electrical and plumbing updates.