201-942-9089 info@abl1.net

Hard Money Loan For Fix And Flip In Newark NJ

Address: Newark, NJ
Borrower Profile: Experienced Investor
Work Description: Gut Renovation Of Single Family Property
Purchase Price: $70,000
Renovation Budget: $95,000
Loan Amount: $140,000
Cash Available for Purchase: $45,000
Cash Available for Renovation: $95,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $246,000

Situation:

This experienced real estate investor and repeat borrower came back to ABL for a hard money fix and flip loan on a single family property in Newark, NJ. The scope of renovations for this project is extensive; a $95,000 total gut rehab. The borrower flipped a similar property on the same street, so he will be using the same team and plan on this property in order to replicate the deal’s success.