Hard Money Loan For Fix And Flip In Bronx NY
Address: Bronx, NY
Borrower Profile: Repeat Borrower
Purchase Price: $500,000
Renovation Budget: $67,000
Loan Amount: $467,000
Cash Available for Purchase: $400,000
Cash Available for Renovation: $67,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $740,000
Situation:
Asset Based Lending is glad to have this repeat borrower and experienced investor back for a hard money fix and flip loan in New York. The scope of work for renovations of this 3,660 square foot three-family home is extensive and includes interior and exterior paint, gutted kitchens and bathrooms, updated floors, and a new basement. The investor will also be replacing all siding and windows, as well as replacing the roof.
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