Mount Vernon NY Fix And Flip Hard Money Loan
Address: Mount Vernon, NY
Purchase Price: $220,000
Renovation Budget: $120,000
Loan Amount: $286,000
Loan Structure: 12 months interest only
Loan Purpose: Property Purchase And Rehabilitation
ARV: $440,000
Situation:
This borrower came to Asset Based Lending through a broker, after the deal fell apart working with another hard money lender. ABL was able to close the loan in under a week in order to meet the borrowers’ original plans. This project is a gut rehab of a three-family home, and is an REO found through auction.
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