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Irvington NJ Fix & Flip Funded By Hard Money Lender

Address: Irvington, NJ
Borrower Profile: Experienced Investor
Work Description: Fix & Flip - Two Family
Purchase Price: $150,150
Renovation Budget: $45,000
Loan Amount: $156,000
Cash Available for Purchase: $111,000
Cash Available for Renovation: $45,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $284,000
Situation:

Asset Based Lending recently funded a hard money loan for a fix and flip in Irvington, NJ. The borrower is a long-time registered nurse and fairly experienced real estate investor that found ABL online in search of hard money lenders. The subject property is a Multi-Family 2 purchased out of auction in need of approximately $45,000 in rehab. The scope of work for renovation includes replacing the windows and garage doors, gutting the kitchens and bathrooms, new hardwood flooring in one unit, as well as replacing all lighting fixture and outlets throughout.

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