Jersey City NJ Fix And Flip Loan
Address: Jersey City, NJ
Purchase Price: $155,000
Renovation Budget: $158,975
Loan Amount: $266,000
Loan Structure: 12 months interest only
Loan Purpose: Property Purchase And Rehabilitation
ARV: $557,000
Situation:
This team of investors came to Asset Based Lending seeking a hard money loan to fund their fix and flip deal in Jersey City, New Jersey. The plan for the property rehab is to complete a high-end renovation to the multi-family building using a contractor that the investors have worked with on 9 previous projects. The scope of work includes renovating all of the interior spaces as well as the building facades. In addition, all mechanical and electrical systems will be replaced.
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