Newark NJ Fix And Flip Hard Money Loan
Address: Newark, NJ
Borrower Profile: First Time Investor
Purchase Price: $116,000
Renovation Budget: $21,000
Loan Amount: $105,000
Cash Available for Purchase: $84,000
Loan Structure: 12 months interest only
Loan Purpose: Property Purchase And Rehabilitation
ARV: $215,000
Situation:
Asset Based Lending recently funded a hard money fix and flip loan for a first time real estate investor looking to purchase an REO multi-family property in Newark New Jersey. The property as-is was in decent shape, in need of minor repairs and cosmetic upgrades to the property’s interior and exterior. Once complete, the borrower plans to refinance the hard money loan and hold it for rental income.
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