Situation:

Asset Based Lending recently funded a hard money cash out refinance loan in Saddle Brook NJ for a first-time borrower with previous real estate investing experience. The property was purchased for $345,000 with a renovation budget of $100,000. The investor came to ABL after purchasing the property cash, seeking financing for the renovation. This single-family home is 1350 square foot with 4 beds, 1.5 baths that will undergo extensive interior and exterior upgrades. The interior upgrades include adding a bedroom and a shower to the existing bathroom to create a 5 bed, 2 baths under the existing square footage. Other interior updates include new hardwood floors and finishing the basement. Exterior upgrades include the construction of an above ground pool and brand-new deck attached to the house. Our team is happy to offer the most reliable and flexible hard money loans NJ has to offer.