201-942-9089 [email protected]

Brooklyn New York Fix And Flip Loan

Address: Brooklyn, NY
Borrower Profile: Repeat Borrower — Experienced Real Estate Investor
Work Description: Fix And Flip — Multifamily 2
Purchase Price: $740,000
Renovation Budget: $150,000
Loan Amount: $742,000
Cash Available for Purchase: $592,000
Cash Available for Renovation: $150,000
Loan Structure: 12 months interest only
Loan Purpose: Property Purchase & Rehabilitation
ARV: $1,250,000
Hard money lender Brooklyn NY
Brooklyn fix and flip loan
Situation:

Asset Based Lending recently funded a hard money fix and flip loan in Brooklyn New York. The borrower is a repeat borrower and experienced real estate investor. The property is a two-unit multifamily with the first unit being 1-bedroom, 1-bathroom measured at 600 square feet and the second unit being 3-bedroom, 1.5-bathroom measured at 1,300 square feet. The first unit will be converted into 2-bedroom by shortening the living room and kitchen areas to make room for the second bedroom. Cosmetic updates to the units include replacing windows, adding eight-inch base molding, and upgrade to recessed lighting. Kitchens will be highlighted by new island, quartz countertops, crown molding around the cabinets, and high-end stainless steel appliances. Bathrooms will be retiled and receive new vanities, toilets, and fixtures. Project is expected to take four months with final sale occurring shortly after completion.

New York hard money loans
Fix and flip loans NY
New York fix and flip loan
Fix and flip lender Brooklyn NY
Direct hard money lender Brooklyn NY
Brooklyn multifamily fix and flip loan