Situation:

Asset Based Lending recently funded a purchase only hard money loan for a real estate investor and repeat borrower looking to buy and flip a two family property in Valley Stream, New York. This borrower is also a realtor, and is using his considerable knowledge of the local market to find under-valued investment properties in great neighborhoods that can either be quickly flipped or held for rental income. This property requires less than $10,000 in rehab, which the borrower has opted to fund out of his own pocket.