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Huntington NY Fix & Flip Hard Money Loan

Address: Huntington, NY
Borrower Profile: Experienced Investor & Repeat Borrower
Work Description: Gut Renovation - Single Family
Purchase Price: $500,000
Renovation Budget: $96,500
Loan Amount: $536,000
Cash Available for Purchase: $439,500
Cash Available for Renovation: $96,500
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $850,000
Situation:

Asset Based Lending recently funded a hard money fix and flip loan for a repeat borrower and experienced investor in Huntington, New York. The investor found the house through his connections with wholesalers, and came to ABL for a quick closing. The subject property is a 2,600 square foot 4 bed / 3 bath single family home in need of almost $100,000 in repairs. The scope of work for renovation is extensive and includes repairing the pool, installing a new HVAC system, gutting the kitchen and bathrooms, replacing the flooring, and installing high-end appliances throughout.

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