Situation:

Asset Based Lending recently financed a hard money loan for a fix and flip project in Rocky Point, NY. The borrower, a master electrician, found the property though an auction and contacted ABL online for a hard money loan. The subject property is a 2,500 square foot single family home with 4 bedrooms and 2.25 bathrooms in Suffolk County. The $41,000 scope of work for renovations includes gutting the kitchen and baths, replacing all electrical fixtures, new paint throughout, new exterior siding, and other cosmetic upgrades.