Hard Money Fix and Flip Loan in Rocky Point, NY

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Address: Rocky Point, NY

Borrower Profile: First-Time Investor, Experienced Contractor

Work Description: Fix and Flip - Single Family

Purchase Price: $133,000

Renovation Budget: $92,000

Loan Amount: $191,000

Cash Available for Purchase: $106,000

Cash Available for Renovation: $85,000

Loan Structure: 12 Months Interest Only

Loan Purpose: Property Purchase And Rehabilitation

ARV: $350,000

Sale Price: $380,000

Exterior – Before

Exterior – After

Situation:

This borrower made his hard money fix and flip loan work, transforming a simple 2 bedroom house into a classic, modern, and airy 4-bedroom home. His finished project is almost unrecognizable when compared with the outset. With hardwood floors, fresh white walls, and a high-end kitchen with stainless steel appliances, it’s no wonder that this property sold for above asking price. A job well-done by this first time ABL borrower and investor!

Outcome: