201-942-9089 [email protected]

NJ Hard Money Lender – Westfield Fix & Flip Loan

Address: Westfield, NJ
Borrower Profile: Experienced Investor
Work Description: Gut Renovation - Single Family
Purchase Price: $430,000
Renovation Budget: $117,000
Loan Amount: $463,000
Cash Available for Purchase: $346,000
Cash Available for Renovation: $117,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $713,000
Westfield NJ hard money lender

Situation:

Asset Based Lending recently funded a hard money loan for a fix and flip project in Westfield, New Jersey. The borrower is a professional real estate investor who has purchased and sold over 30 properties, and found this particular deal with the help of a realtor on the MLS. This property is a 2,300 sqft single family split ranch with 4 bedrooms and 2.5 bathrooms. The $117,000 scope of work calls for a near-total gut renovation including replacing garage doors, driveway blacktop, windows, and all exterior doors. For the interior, the basement level will be converted into a family room, all bedrooms will be completely gutted, and all bathrooms as well as the kitchen will be overhauled with higher end appliances.

New Jersey hard money lender
NJ hard money lender for real estate
NJ hard money loans
Fix and flip hard money lender