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Hard Money Loan In Ewing NJ For Fix And Flip

Address: Ewing, NJ
Borrower Profile: First Time Investor
Work Description: Fix & Flip - Single Family
Purchase Price: $78,500
Renovation Budget: $67,000
Loan Amount: $116,000
Cash Available for Purchase: $42,040
Cash Available for Renovation: $67,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $205,000

Asset Based Lending recently financed a hard money fix and flip loan in Ewing New Jersey for a real estate investor purchasing a property from a wholesaler. The investor, who was referred to ABL by another borrower, is a first time solo investor but has experience in real estate managing projects with family members. The subject property is a 1,580 square foot single family home with 4 beds and 1 bath. The $67,000 scope of work for renovations includes adding a second bathroom, repairing the roof, updating the kitchen and existing bathroom, as well as other cosmetic upgrades throughout.

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