201-942-9089 info@abl1.net

Hard Money New Construction Loan in Union Beach, NJ

Address: Union Beach, NJ
Borrower Profile: Experienced Builder and Investor
Work Description: New Construction - Single Family
Purchase Price: $75,500
Renovation Budget: $170,000
Loan Amount: $196,000
Cash Available for Purchase: $26,000
Cash Available for Renovation: $170,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Land Purchase & New Construction
ARV: $395,000

Situation:

This 2400 sq. ft. new construction project will be this experienced builder’s first new construction project as an investor, but he has experience with several large rehabs that we’re confident will help him pull it off without issue. When completed, this two story home will have at least 3 beds and 2 baths, high-end finishes like hardwood floors and granite countertops, a deck with a view of the NYC skyline, and cedar shake siding. This builder knows what buyers want; he will install LED lights and highly efficient appliances. We’re excited to watch this investor’s first new construction project develop!