Situation:

This husband and wife team of real estate investors found Asset Based Lending through a Google search in need of a hard money loan to fund their deal in Kinnelon New Jersey. The proposed scope of work is to remove the damaged roof and add a full second story over the main part of the house with two bedrooms and a full bathroom. A five hundered (500) square foot master suite with laundry facility will be constructed over the existing garage. The fully renovated main floor of the house will contain a new half-bath, kitchen, and living/dining area. All of the mechanical systems will be renovated to like-new condition and central air-conditioning will be added. The proposed renovations do not require expansion of the existing footprint, therefore will not require setback or other bulk variances.

The proposed plan will also keep the structure under the thirty-five foot (35’-0”) maximum height allowed in the zone. The result will be an almost entirely new, approximately two thousand (2,000) square foot, three bedroom, two and one half bathroom home with attached two car garage. The orientation of the house on the site will allow large southern facing windows which will have seasonal views of East Lake and Fayson Lake. The finished house will be complimentary to the existing neighborhood, where most of the older homes have been renovated and expanded. It will be very attractive to both current Kinnelon residents looking to downsize and to new families looking to take advantage of the family-friendly neighborhood and top rated Kinnelon public schools.