Brooklyn NY Fix And Flip Hard Money Loan

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Address: Brooklyn, NY

Borrower Profile: Experienced investors

Work Description: Extensive rehab to multi-family building

Purchase Price: $1,400,000

Renovation Budget: $400,000

Loan Amount: $1,450,000

Cash Available for Purchase: $1,050,000

Loan Structure: 12 months interest only

Loan Purpose: Property Purchase And Rehabilitation

ARV: $2,200,000

Sale Price: $2,150,000

Brooklyn foyer renovations funded by ny hard money lender

Den after fix and flip funded by hard money lender in new york

Situation:

This experienced real estate investor found Asset Based Lending by searching online after his previous hard money lender ran out of money and was unable to fund the deal. ABL funded 80% of the purchase plus 100% of the rehab costs. The extensive renovations included adding almost 900 square feet and totaled roughly $400,000.

Outcome:

You have to see it to believe it. Take a look at this before and after video to see the project’s progression from start to finish.