Fix And Flip Funded By Hard Money Lender In Staten Island NY
Address: Staten Island, NY
Borrower Profile: First Time Investor
Purchase Price: $552,000
Renovation Budget: $70,000
Loan Amount: $510,000
Cash Available for Purchase: $440,000
Cash Available for Renovation: $70,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $795,000
Situation:
Asset Based Lending recently funded a hard money fix and flip loan for a first time real estate investor in Staten Island, New York. The two-family REO property will require an extensive $70,000 in rehab. The scope of work for renovations includes all new siding, windows, and and roofing. The kitchens and bathrooms will also be completely gutted, and the floors will be replaced or refinished throughout.
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