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Hard Money Loan For Fix & Flip In Ridgefield Park NJ

Address: Ridgefield Park, NJ
Work Description: Gut Renovation Of Single Family Property
Purchase Price: $284,900
Renovation Budget: $68,000
Loan Amount: $295,000
Cash Available for Purchase: $227,000
Cash Available for Renovation: $68,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $455,000
Situation:

Asset Based Lending recently funded a hard money loan for a fix and flip project in Ridgefield Park, New Jersey. The investor found this property on the MLS with the help of a realtor, who also found his previous project. The $68,000 scope of work is a fairly extensive partial gut rehab and includes new roofing and siding, gutting the kitchen and bathrooms, installing HVAC, finishing the basement, and even opening up the floor plan for a more modern design.

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