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Hard Money Loan For Fix And Flip In Perth Amboy NJ

Address: Perth Amboy, NJ
Borrower Profile: Repeat Borrower & Experienced Investor
Work Description: Gut Renovation - Single Family
Purchase Price: $120,000
Renovation Budget: $128,000
Loan Amount: $219,800
Cash Available for Purchase: $91,800
Cash Available for Renovation: $128,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $314,000
Situation:

Asset Based Lending recently funded a fix and flip loan in Perth Amboy NJ for a repeat borrower with professional fix and flip experience. The project is a gut renovation purchased for $120,000 with a renovation budget of $128,000 funded at nearly 89% LTC. The property is a 1500 sq foot single-family home split between two structures that are 850 square foot and 650 square foot, respectively. Both structures will be completely renovated, resulting in a total of 5 bedrooms and 2 baths. The exterior will be improved through extensive landscaping, fresh coat of paint, and brand-new roofing. The interior will see a completely new kitchen with new stainless-steel appliances, new flooring throughout the home, new cabinets, and updated bathrooms. Asset Based Lending loves to see the amazing home improvements in our neighborhoods, which is why we are always ready to fund the most trusted hard money fix and flip loans NJ has to offer.

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