Fix And Flip Hard Money Loan In Queens NY
Address: Queens, NY
Borrower Profile: Real Estate Professional
Purchase Price: $385,000
Renovation Budget: $50,000
Loan Amount: $365,000
Cash Available for Purchase:
Cash Available for Renovation:
Loan Structure: 12 months interest only
Loan Purpose: Property Purchase And Rehabilitation
ARV: $550,000
Situation:
This experienced investor has always funded deals with his own equity, but decided to use Asset Based Lending’s hard money loans as a source of leverage to fund additional investments. Rehab will be managed by the borrower’s brother, who is a licensed general contractor. The scope of work includes renovating the kitchen, bathroom, siding, driveway, floors, and re-painting the entire property.
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