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Hard Money Fix And Flip Loan In Staten Island NY

Address: Staten Island, NY
Borrower Profile: Experienced Investor
Purchase Price: $240,000
Renovation Budget: $50,000
Loan Amount: $242,000
Cash Available for Purchase: $192,000
Cash Available for Renovation: $50,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $490,000

Situation:

Asset Based Lending is glad to have this experienced investor and repeat borrower back for another fix and flip loan. This hard money loan is financing the purchase and rehab of a multi-family property in Staten Island New York. The scope of work for renovations includes gutting the bathrooms and kitchens, replacing moldings, doors, and fixtures, and a new coat of paint throughout. This borrower always delivers a high quality product in a short period of time, so we can’t wait to see how this one turns out!