Nassau County Fix & Flip Hard Money Loan
Address: New Hyde Park, NY
Borrower Profile: Experienced Investors
Work Description: Gut Renovation - Single Family
Purchase Price: $525,000
Renovation Budget: $78,000
Loan Amount: $487,000
Cash Available for Purchase: $409,000
Cash Available for Renovation: $78,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $750,000
Situation:
Asset Based Lending recently financed a hard money loan for a fix and flip project in New Hyde Park, NY. These experienced Long Island real estate investors purchased this single family in Nassau County with the help of a local realtor. The subject property is 3,100 sqft with 4 bedrooms and 2 bathrooms, in need of a fairly substantial $78,000 renovation.
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