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Hard Money Fix & Flip Loan In Weehawken NJ

Address: Weehawken, NJ
Borrower Profile: Experienced Investor & General Contractor
Work Description: Fix & Flip - Two Family
Purchase Price: $614,250
Renovation Budget: $71,000
Loan Amount: $562,000
Cash Available for Purchase: $491,000
Cash Available for Renovation: $71,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $874,000
Situation:

Asset Based Lending recently funded a hard money fix and flip loan for a pair of investors in Weehawken, New Jersey. The two-family property was purchased at auction, and consists of two identical 2 bed / 1 bath units. One of the investors is also a licensed contractor, and will be taking charge of most of the $71,000 renovation. The scope of work includes opening the floor plans, repairing the roof, installing new HVAC, and other cosmetic upgrades throughout.

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