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Hard Money Loan In Newark NJ For Fix And Flip

Address: Newark, NJ
Borrower Profile: Experienced Investor
Work Description: Fix & Flip - Single Family
Purchase Price: $185,000
Renovation Budget: $70,000
Loan Amount: $216,000
Cash Available for Purchase: $133,280
Cash Available for Renovation: $70,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $341,000

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.

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