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Melville NY Hard Money Fix & Flip Loan

Address: Melville, NY
Borrower Profile: Experienced Investors
Work Description: Gut Renovation - Single Family
Purchase Price: $612,900
Renovation Budget: $148,000
Loan Amount: $633,000
Cash Available for Purchase: $485,000
Cash Available for Renovation: $148,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $1,200,000
Sale Price: $1,099,000 (Listed)
Situation:

Asset Based Lending funded a hard money fix and flip loan for a property purchased out of foreclosure in Melville, New York. The investment team is made up of a dentist/real estate investor and a general contractor/real estate investor. The subject property is a 2,870 sqft 4 bed 4 bath single family on a 1 acre lot. The $148,000 scope of work for renovations includes refinishing the basement, adding a 2nd central air zone, refinishing the hardwood floors, opening up the floor plan, gutting the bathrooms and kitchen, as well other cosmetic upgrades throughout.

Outcome:

Kitchen - Before
Mellville NY hard money loans fix and flip
Kitchen - After
Rear - Before
Fix and flip loans in New York
Rear - After
NY fix and flip loans
Bathroom - Before
Hard money lender NY
Bathroom - After
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