201-942-9089 info@abl1.net

Roslyn New York Fix And Flip Loan

Address: Roslyn, NY
Borrower Profile: Repeat Borrower — Full Time Real Estate Investor
Work Description: Gut Renovation & Addition — Single Family
Purchase Price: $975,000
Renovation Budget: $375,000
Loan Amount: $1,147,000
Cash Available for Purchase: $772,000
Cash Available for Renovation: $375,000
Loan Structure: 12 months interest only
Loan Purpose: Property Purchase & Rehabilitation
ARV: $1,800,000
Situation:

Asset Based Lending recently funded a hard money fix and flip loan in Roslyn New York. The borrower is a repeat borrower and full-time real estate investor. The property is currently a 4-bedroom, 2.5-bathroom measured at 2,975 square feet that will be converted to a 5-bedroom, 4.5-bathroom measured at 3,400 square feet. Property will receive a rear dormer addition to extend the square footage and add additional living space. Kitchen will receive quartz countertops, shaker cabinets, and high-end stainless steel appliances. Existing baths will be entirely gutted and remodeled. Stairs will be located on main floor and several walls will be removed to add to the open layout. Project is expected to take six months with final sale occurring shortly after completion.