201-942-9089 info@abl1.net

Holmdel New Jersey Fix And Flip Loan

Address: Holmdel, NJ
Borrower Profile: First Time Borrower — Experienced Real Estate Investor
Work Description: Gut Renovation — Single Family
Purchase Price: $1,200,000
Renovation Budget: $360,000
Loan Amount: $1,194,000
Cash Available for Purchase: $834,000
Cash Available for Renovation: $360,000
Loan Structure: 12 months interest only
Loan Purpose: Property Purchase & Rehabilitation
ARV: $1,990,000

Asset Based Lending recently funded a hard money fix and flip loan in Holmdel New Jersey. The borrower is an experienced investor and a first-time borrower with ABL. The property is a 6-bedroom, 5-bathroom single family measured at 5,107 square feet. Exterior will receive updated landscaping, repairs to the roof and gutter, and new Azek siding. The interior is currently gutted and will be completely renovated, highlighted by high-end finishes. Floors will be hardwood throughout with tiles in the bathrooms and kitchen with crown molding throughout, Basement will be finished to include a movie room, storage area with wine rack, and additional bathroom. Kitchen will be enlarged and receive European cabinets, quartz countertops and backsplash, and eight-foot island. Bathrooms will receive brand new tubs and showers with the master bath highlighted by dual vanities, spa shower, and soaking tub. Project is expected to take upwards of five months with final sale occurring shortly after completion.