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NJ Hard Money Lender – Browns Mills Fix & Flip

Address: Browns Mills, NJ
Borrower Profile: Repeat Borrower
Work Description: Gut Renovation - Single Family
Purchase Price: $84,900
Renovation Budget: $45,000
Loan Amount: $109,000
Cash Available for Purchase: $64,000
Cash Available for Renovation: $45,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $190,000
Situation:

This retired military veteran came to Asset Based Lending for a hard money loan on his 2nd deal with us – a fix and flip in Browns Mills, New Jersey. The property is a 1600 square foot split level with 3 bedrooms, 1 bathroom, an eat-in kitchen, and a large family room that opens to a deep back yard. The scope of work for rehab is a full gut to the studs, including replacing the roof and adding an additional half bathroom.

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