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Hard Money Loan For Fix And Flip In Newton CT

Address: Newton, CT
Borrower Profile: Repeat Borrower & Experienced Investor
Work Description: Fix & Flip - Single Family
Purchase Price: $180,500
Renovation Budget: $41,000
Loan Amount: $185,000
Cash Available for Purchase: $144,000
Cash Available for Renovation: $41,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $295,000
Situation:

Asset Based Lending recently funded a hard money fix and flip loan in Newton CT for a repeat borrower with previous real estate investing experience. The property was purchased for $180,500 with a renovation budget of $41,000 funded at nearly 84% LTC. This single-family home is 1400 square feet with 3 bedrooms, 1 bath and will undergo both interior and exterior renovations. The exterior updates include brand new roofing, new siding, new windows, and various deck repairs. Interior updates include brand new appliances and vanity in both the bathroom and kitchen, fresh coats of paint, sanding the current floors, and finishing the basement. Our borrower recently began investing in real estate full time, and our loan officers were happy to set them up with the most reliable fix and flip loans CT has to offer.

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