Situation:

Asset Based Lending recently funded a hard money loan for a new construction project in Ocean County, New Jersey. Our investor spotted this property while walking the neighborhood, and was able to buy it from the investment company that purchased many similar Sandy damaged homes out of sheriff sale. The new build will be a modular, 2,500 sqft single family with 5 beds and 3.5 bathrooms with an open floor plan. The finishes will be above builder-grade, and include hardwood flooring and nice moldings throughout. The finished waterfront home will also include a full size 2-car garage.