Situation:

Asset Based Lending recently funded a hard money fix and flip loan in Irvington, NJ for a team of experienced real estate investors and repeat borrowers. The subject property is a 1512 square foot single family with 3 beds and 1 bath, and was found through the investor’s marketing efforts. The $55,000 scope of work for renovations includes opening the floor plan on the first floor, upgrading plumbing and electrical systems, gutting the kitchen and bathroom, new flooring and paint throughout, as well as other cosmetic improvements.