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Long Island Fix And Flip Funded By NY Hard Money Lender

Address: Albertson, NY
Borrower Profile: Experienced Investor
Work Description: Fix & Flip - Single Family
Purchase Price: $815,000
Renovation Budget: $82,000
Loan Amount: $807,000
Cash Available for Purchase: $725,000
Cash Available for Renovation: $82,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $1,150,000
Situation:

Asset Based Lending recently funded a hard money loan for a fix and flip project in Nassau County, New York. The borrower is an experienced investor purchasing a 4 bedroom, 3.5 bathroom single family home in need of $82,000 in renovations. The scope of work for renovations includes updating the kitchen and bathrooms, fixing the pool, replacing the HVAC, potentially opening up the floor plan, and other cosmetic upgrades throughout. ABL was able to fund this project at 70% LTV and 90% LTC.

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