Westfield NJ Hard Money Loan For Fix And Flip
Address: Westfield, NJ
Borrower Profile: Licensed Realtor
Work Description: Gut Renovation And Expansion Of Single Family Property
Purchase Price: $525,000
Renovation Budget: $250,000
Loan Amount: $658,000
Cash Available for Purchase: $408,000
Cash Available for Renovation: $250,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Property Purchase And Rehabilitation
ARV: $1,046,000
Time To Pay Off: 13 Months
Exterior – Before
Exterior – After
Situation:
Asset Based Lending funded a hard money fix and flip loan for the purchase and renovations of this single family property in Westfield, NJ. As a realtor, this borrower found this property and knew it had potential. The scope of work includes an 800 square foot addition to the property that will enlarge the master bedroom as well as add two new bathrooms. The finished home will be 4 bedrooms and 3.5 bathrooms.
Outcome:
Kitchen – Before
Interior – Before
Bathroom – Before
Kitchen – After
Interior – After
Bathroom – After
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