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Hard Money Loan For Fix And Flip In Lincroft NJ

Address: Lincroft, NJ
Work Description: Fix & Flip - Single Family
Purchase Price: $385,000
Renovation Budget: $39,000
Loan Amount: $347,000
Cash Available for Purchase: $308,000
Cash Available for Renovation: $39,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $555,000
Situation:

Asset Based Lending recently funded a hard money loan for a fix and flip project in Lincroft, NJ. The investor, starting his first solo flip, is an experienced commercial construction project manager and lives in the area. The $39,000 scope of work for the renovation of this 2,100 square foot 5 bedroom home is mostly cosmetic, including updating the kitchen and bathrooms, repairing the roof and siding, and replacing windows.

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