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Fix and Flip Hard Money Loan in Rego Park Queens, New York

Address: Rego Park, New York
Borrower Profile: Experienced Investor
Purchase Price: $560,000
Renovation Budget: $80,000
Loan Amount: $444,000
Cash Available for Purchase: $364,000
Cash Available for Renovation: $80,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Property Purchase and Rehabilitation
ARV: $700,000
Queens NY fix and flip loan
Queens NY fix and flip hard money loan

Situation:

We recently closed a $444,000 hard money loan for a multifamily fix and flip property in Rego Park, New York. Our veteran investor has a big project to complete with a proposed gut renovation of this home. The home requires new sheetrock and all new electrical wiring. The investor also plans to include new fixtures and tiles for all of the bathrooms. The kitchen will be a chef’s paradise with special ordered cabinets and crown molding. The exterior will be presented with vinyl siding while the investor also plans to do an exterior property cleanup to increase curb appeal. We’re sure this property will be a gem upon completion!

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