Stony Brook NY Property Purchase
Address: Stony Brook, NY
Borrower Profile: Experienced investor
Purchase Price: $275,000
Renovation Budget:
Loan Amount: $178,750
Cash Available for Purchase: $178,750
Cash Available for Renovation:
Loan Structure: 12 months interest only
Loan Purpose: Property Purchase
ARV: $520,000
Situation:
This repeat borrower and full time real estate attorney approached Asset Based Lending looking for a hard money loan to finance the purchase of a single family home in Stony Brook New York. While the property will be rehabbed, the investor has decided to use his own capital for that part of the deal.
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