Hard Money Fix and Flip Loan in Basking Ridge, NJ
Address: Basking Ridge, NJ
Borrower Profile: New Investor and Experienced Investor
Work Description: Fix and Flip - Single Family
Purchase Price: $225,000
Renovation Budget: $125,000
Loan Amount: $323,000
Cash Available for Purchase: $198,000
Cash Available for Renovation: $125,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $540,000
Situation:
This 2 bed, 2 bath New Jersey home needs a lot of work before it’s ready to go back on the market for over half a million dollars. Luckily, one half of this flipping duo is an experienced contractor who has completed more than 10 full-gut rehab projects. Our borrowers will be improving this Cape Cod Style home with a fully vinyl exterior, an expanded master bedroom, new door and 15 new windows, laminate floors, and an open floor plan. They will be preserving the original hardwood floors to maintain the house’s old-school charm. With so many desirable updates, buyers will be lining up to purchase this finished fix and flip!
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