Situation:

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.