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Hard Money Loan For Fix And Flip In Norwalk CT

Address: Norwalk, CT
Borrower Profile: Repeat Borrower
Work Description: Fix & Flip - Single Family
Purchase Price: $360,500
Renovation Budget: $49,000
Loan Amount: $337,000
Cash Available for Purchase: $288,000
Cash Available for Renovation: $49,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $600,000
Situation:

Asset Based Lending recently financed a hard money loan for a fix and flip project in Norwalk, Connecticut. The borrowers found this bank-owned 2,100 square foot single family ranch through a realtor on the MLS. The investors will use the $49,000 rehab budget to fix the odd floor plan, add a 4th bedroom, repair and replace windows and roofing, and other cosmetic upgrades throughout.

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