Situation:

This husband and wife investing team came to ABL looking for some assistance in funding the purchase of an investment property in Brooklyn, NY. This team is planning on renovating only the kitchens and bathrooms of the home and will do it with their own cash since they only came to ABL for a hard money loan on only the purchase of the property. The demand for rentals in this Brooklyn neighborhood is strong. The couple plans to capitalize on the hot market by splitting the home into 3 units and renting them out in an effective buy and hold investment strategy. We wish this team the best of luck and hope to continue working with them on future projects!