Cash Out And Rehab Hard Money Loan In Toms River NJ
Address: Toms River, NJ
Borrower Profile: Experienced Investor
Work Description: Fix & Flip - Single Family
Purchase Price: $160,000
Renovation Budget: $22,000 (Remaining)
Loan Amount: $150,000
Cash Available for Purchase: $128,000 (Cash Out)
Cash Available for Renovation: $22,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Cash Out & Rehabilitation
ARV: $290,000
Situation:
Asset Based Lending recently financed a cash out and rehab hard money loan for a real estate investor in the middle of a fix and flip in Toms River, NJ. The borrower began the project with a private investor, and has already invested approximately $70,000 into the rehab. This single family fix and flip needs another $22,000 to complete the renovations before hopefully being resold for at least $290,000.
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