Situation:

Asset Based Lending recently funded a hard money loan for a repeat borrower and experienced investor purchasing a fix and flip in Garwood, New Jersey. The subject property is a 3 bedroom 1.5 bathroom 1650 square foot single family property purchased out of an estate sale. The $92,000 scope of work for renovations includes upgrading the electrical and HVAC systems, improving the plumbing, and gutting the kitchen and bathrooms. ABL was able to finance this property at 87% of purchase and 100% of rehab.