fix and flip investment properties

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Southampton NY Fix & Flip Hard Money Loan

Address: Southampton, NY
Borrower Profile: Repeat Borrower – Experienced Investor
Work Description: Fix & Flip - Single Family
Purchase Price: $800,000
Renovation Budget: $54,750
Loan Amount: $734,000
Cash Available for Purchase: $679,250
Cash Available for Renovation: $54,750
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $1,300,000
Situation:
Asset Based Lending recently funded a fix and flip hard money loan in Southampton New York. The borrower is a repeat borrower and experienced real estate investor. The property was purchased for $800,000 with a renovation budget of $54,750 and total loan funded at nearly 86% LTC.  This property is a 4-bedroom, 3-bathroom single family home measured at approximately 2,400 square feet. Renovation will focus primarily on gutting master bathroom along with other minor updates. Other work will include refinishing hardwood floor, repairing roof, repairing deck, and fixing pool liner.
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