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Hard Money Loan For Fix And Flip In Coram NY

Address: Coram, NY
Borrower Profile: First Time Borrower With Fix And Flip Experience
Work Description: Cosmetic Rehab - Single Family
Purchase Price: $281,000
Renovation Budget: $31,040
Loan Amount: $260,000
Cash Available for Renovation: $31,040
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $400,000
Situation:

Asset Based Lending recently funded a hard money fix and flip loan in Coram NY for a first-time borrower with previous fix and flip experience. The project is a cosmetic upgrade fix and flip purchased for $281,000 with a renovation budget of $31,040 funded at nearly 83% LTC. The property is a 1570 square foot single-family home that will be renovated with an updated kitchen and updated bathrooms. This 3-bedroom, 2-bath property is highlighted by an outdoor pool that will also be renovated. ABL loves helping real estate investors of all experience levels, offering new investors and professionals the same high quality fix and flip loans in New York.

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