Situation:

This very experienced real estate investor came back to Asset Based Lending for a hard money loan in order to finance the purchase and renovation of a mixed-use property in Ridgefield Park, New Jersey. The $289,000 construction scope of work is a complete gut; the existing bar and residential unit will be converted to townhouses using the existing framework of the building. Each new unit will be a 3 bed/2.5 bath, with 1900 square feet of living space. We can’t wait to see the finished fix and flip!