Situation:

Asset Based Lending recently funded a hard money loan for a fix and flip project in Maplewood, New Jersey. The subject property is a 2,550 square foot multi family home with 7 bedrooms and 5 bathrooms, in need of $105,000 in renovation. The investor plans to convert the MF2 into a single family home, gut the kitchen and bathrooms, replace the flooring and lighting, as well as other substantial upgrades throughout.