Hard Money Fix & Flip Loan In Paterson, NJ
Address: Paterson, NJ
Borrower Profile: Experienced Investor
Work Description: Fix & Flip – Multi-Family (3)
Purchase Price: $106,575
Renovation Budget: $140,000
Loan Amount: $220,000
Cash Available for Purchase: $80,000
Cash Available for Renovation: $140,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $333,000
Situation:
Asset Based Lending recently funded a hard money fix and flip loan to an experienced real estate investor in Paterson, New Jersey—offering 66% of ARV and 90% of total deal cost. This 3,100 square foot multi-family property has 3 bedrooms and 1 bathroom. Renovations will include a full gut, roof work, and siding.
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