Hard Money Fix and Flip Loan in Rocky Point, NY
Address: Rocky Point, NY
Borrower Profile: First-Time Investor, Experienced Contractor
Work Description: Fix and Flip - Single Family
Purchase Price: $133,000
Renovation Budget: $92,000
Loan Amount: $191,000
Cash Available for Purchase: $106,000
Cash Available for Renovation: $85,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Property Purchase And Rehabilitation
ARV: $350,000
Sale Price: $380,000
Exterior – Before
Exterior – After
Situation:
This borrower made his hard money fix and flip loan work, transforming a simple 2 bedroom house into a classic, modern, and airy 4-bedroom home. His finished project is almost unrecognizable when compared with the outset. With hardwood floors, fresh white walls, and a high-end kitchen with stainless steel appliances, it’s no wonder that this property sold for above asking price. A job well-done by this first time ABL borrower and investor!
Outcome:
Bathroom – Before
Kitchen – Before
Bathroom – After
Kitchen – After
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