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Hard Money Lender For Fix And Flip In Bay Shore New York

Address: Bay Shore, NY
Borrower Profile: Repeat Borrower & Experienced Investor
Work Description: Fix & Flip - Single Family
Purchase Price: $279,000
Renovation Budget: $62,000
Loan Amount: $263,000
Cash Available for Purchase: $188,000
Cash Available for Renovation: $62,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $410,000
Situation:

Asset Based Lending recently financed a hard money loan for a fix and flip project in Bay Shore NY. The borrowers are experienced investors and repeat borrowers who found this property through a friend. One of the investors is a full time General Contractor, and will be managing the $62,000 renovation himself. The scope of work for renovation includes gutting the kitchen and bathrooms, a new room, fresh paint throughout, and updating all flooring.

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