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Hard Money Loan In Baldwin NY For Fix And Flip

Address: Baldwin, NY
Borrower Profile: Repeat Borrower & Experienced Investor
Work Description: Fix & Flip - Single Family
Purchase Price: $330,000
Renovation Budget: $36,000
Loan Amount: $308,000
Cash Available for Purchase: $272,000
Cash Available for Renovation: $36,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $510,000
Situation:

Asset Based Lending recently funded a hard money fix and flip loan in Baldwin NY for a repeat borrower with extensive real estate investing experience. The property was purchased for $330,000 with a renovation budget of $36,000 with a total loan funded at 84% LTC. The home is a single-family detached 3-bedroom, 3-bathroom measured at 1711 square feet. The borrower already placed 10% down on the property before working with ABL on this NY fix and flip loan. Renovations will be cosmetic and focus on the kitchen and bathrooms, including upgrades like refinished floors and new crown molding. Both interior and exterior doors will be replaced as well. Renovations are expected to take approximately 60 days.

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