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Nassau County NY Fix & Flip Hard Money Loan

Address: Bethpage, NY
Borrower Profile: Experienced Investor & General Contractor
Work Description: Fix & Flip - Single Family
Purchase Price: $290,000
Renovation Budget: $28,000
Loan Amount: $286,000
Cash Available for Purchase: $258,000
Cash Available for Renovation: $28,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $425,000
hard money loan in Bethpage NY
Long Island hard money lenders

Situation:

Asset Based Lending recently funded a hard money loan for an experienced fix and flip investor in Bethpage, NY. The investor – who is also a licensed contractor – found this single family property at auction, and came to ABL for a quick close loan to secure the deal. The existing property is an 1,100 sqft 3 bed/2 bath in need of gut renovations to the bathrooms and kitchen. The investor also plans on extending the footprint to add an additional bedroom.

Long Island NY fix and flip hard money lender
NY fix and flip loan