Cash Out Refinance And Rehab In Union City NJ
Address: Union City, NJ
Borrower Profile: Experienced investor and relator
Work Description: Gut renovations
Purchase Price: $149,999
Renovation Budget: $305,000
Loan Amount: $424,000
Cash Available for Purchase:
Cash Available for Renovation:
Loan Structure: 12 months interest only
Loan Purpose: Cash Out Refinance And Rehabilitation
ARV: $675,000
Situation:
This experienced investor team is made up of real estate professionals who came to Asset Based Lending for a cash out refinance and renovation loan for a multi family property in Union City New Jersey. The plan is to completely gut the building, overhaul it over 4-6 months, and then hold it as a rental property once the renovation is completed. This team has fixed and flipped 18 properties in the last two years.
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