Situation:

Asset Based Lending recently funded a hard money fix and flip loan for an experienced investor at 90% Loan To Cost and 75% Loan To ARV. The subject property is a 2800 sqft 3 family home in Newark that needs approximately $74,000 worth of rehab. The scope of work for renovations includes 2 new furnaces, gutting all kitchens and bathrooms, replacing the flooring throughout and adding a 2nd bedroom to one of the existing units.