Hard Money Fix and Flip Loan in Linden, NJ
Address: Linden, NJ
Borrower Profile: Experienced Investor
Work Description: Fix and Flip - Single Family
Purchase Price: $308,000
Renovation Budget: $10,000
Loan Amount: $245,000
Cash Available for Purchase: $235,000
Cash Available for Renovation: $10,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $378,000
Situation:
This fix and flip team found their property at a sheriff sale. Their original lender backed out at the last minute, so these first-time ABL borrowers came to us for a rush close. The property is already in good shape, and with a little paint, some carpet removal, floor finishes, and new front handrails, this NJ single family home will be back on the market.
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