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Long Island Hard Money Fix And Flip Loan

Address: Southampton, NY
Borrower Profile: Experienced Investor & Repeat Borrower
Work Description: Gut Renovation - Single Family
Purchase Price: $825,000
Renovation Budget: $150,000
Loan Amount: $877,000
Cash Available for Purchase: $727,000
Cash Available for Renovation: $150,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $1,800,000
Situation:

Asset Based Lending recently funded a hard money fix and flip loan for a repeat borrower and experienced investor on Long Island. The subject property is an REO, currently a 5 bed / 3.5 bath 4100 square foot single family home in Suffolk County, New York. This project calls for a substantial rehab of $150,000. The scope of work for renovations includes replacing the exterior doors and deck, refinishing the hardwood floors throughout, gutting the kitchen and bathrooms, as well as major landscaping and exterior cleanup. ABL was able to finance this hard money fix and flip loan at 88% of purchase and 100% of rehab.

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Fix and flip loans New York
Fix and flip loans Long Island
Long Island NY fix and flip loans
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