New Construction Hard Money Loan In Watchung NJ
Address: Watchung, NJ
Borrower Profile: Experienced General Contractor
Work Description: New Construction
Purchase Price: $435,000
Renovation Budget: $400,000
Loan Amount: $400,000
Cash Available for Purchase: $100,000 (Cash Out)
Cash Available for Renovation: $300,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Cash Out And New Construction
ARV: $798,000
Sale Price: $1,189,000
![](https://cdn.abl1.net/wp-content/uploads/2018/03/IMG_2594.jpg)
Exterior – Before
![NJ hard money lender](https://cdn.abl1.net/wp-content/uploads/2018/03/MG_0754-1920x1277-1.jpg)
Exterior – After
Situation:
This experienced real estate investor found Asset Based Lending through his mortgage broker, and came to us after purchasing the property in cash seeking a hard money loan for cash out and new construction. With a $400,000 total construction budget, this 1,500 sqft single family home is being gutted down to the studs, rebuilt, and expanded for the high-end local demand. The finished property will be a beautiful 4,600 sqft 4 bedroom 3.5 bathroom home with high-end finishes and a finished basement.
Outcome:
![](https://cdn.abl1.net/wp-content/uploads/2018/03/IMG_2613.jpg)
Interior – Before
![Hard money lender for new construction in New Jersey](https://cdn.abl1.net/wp-content/uploads/2018/03/IMG_2616.jpg)
Interior – Before
![](https://cdn.abl1.net/wp-content/uploads/2018/03/MG_0606_-1920x1280-1.jpg)
Interior – After
![Hard money cash out and new construction loans](https://cdn.abl1.net/wp-content/uploads/2018/03/MG_0655-1920x1280-1.jpg)
Interior – After
Get Started
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