Baldwin New York Fix & Flip Loan
Address: Baldwin, NY
Borrower Profile: First time flipper
Purchase Price: $205,000
Renovation Budget: $66,000
Loan Amount: $230,000
Loan Structure: 12 months interest only
Loan Purpose: Property Purchase And Rehabilitation
ARV: $365,000
Situation:
After completing a popular real estate investing educational program, these first time flippers sought Asset Based Lending to fund their fix and flip project in Baldwin New York. The 1,200 square foot property was purchased through a wholesaler and is located just a short distance from the borrower’s home, which will allow for constant supervision. The scope of work includes adding an additional bathroom upstairs, removing an old oil tank, and renovating the flooring throughout.
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