Hard Money Fix And Flip Loan In Brooklyn NY
Address: Brooklyn, NY
Purchase Price: $1,875,000
Renovation Budget: $200,000
Loan Amount: $1,600,000
Cash Available for Purchase: $1,400,000
Cash Available for Renovation: $200,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Property Purchase And Rehabilitation
ARV: $2,700,000
Situation:
Asset Based Lending recently closed a $1.6M hard money fix and flip loan for a mixed-use property in Brooklyn New York. These experienced real estate investors were recommended to ABL through a trusted attorney. The scope of work for the 3 residential units and 1 commercial unit includes major electrical system upgrades, new ceilings and roofing, as well as flooring, tile, and kitchen updates.
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