Nassau County NY Hard Money Fix And Flip Loan
Address: Jericho, NY
Purchase Price: $525,000
Renovation Budget: $90,000
Loan Amount: $516,000
Cash Available for Purchase: $426,000
Cash Available for Renovation: $90,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $850,000
Situation:
Asset Based Lending recently funded a hard money loan for a fix and flip investor in Jericho, NY. This 3 bed 2.5 bathroom condo will undergo significant renovations in order to become market-ready. All bathrooms and the kitchen will be completely gutted, some demolition will open the floor plan, new flooring will be installed throughout, and the driveway will be updated. When all is said and done, this Nassau County condo should sell for a significant profit.
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