Hard Money Fix And Flip Loan In Newark NJ
Address: Newark, NJ
Purchase Price: $109,000
Renovation Budget: $65,000
Loan Amount: $139,000
Cash Available for Purchase: $74,000
Cash Available for Renovation: $65,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $249,000
Situation:
This first time fix and flip investor found Asset Based Lending through a referral from a previous borrower. ABL financed a hard money loan for this investor to purchase and rehab a three family property in Newark, New Jersey. The scope of work for renovations of this multifamily property include updating the roof, replacing the front porch, updating the kitchens and bathrooms, and a new paintjob throughout.
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