Situation:

Asset Based Lending recently funded a hard money fix and flip loan in Newark NJ for a husband and wife team of experienced real estate investors. The subject property is a 2,000 square foot 3 bed / 1 bath single family home that they found on the MLS. The $70,000 scope of work for renovation includes adding a new half-bath, updating the kitchen and existing bathroom, opening up the floorplan, finishing the basement, replacing the roof, and new flooring throughout.