Hard Money Fix And Flip Loan In Sandy Hook CT
Address: Sandy Hook, CT
Borrower Profile: Repeat Borrower & Experienced Investor
Work Description: Fix & Flip - Single Family
Purchase Price: $99,900
Renovation Budget: $112,000
Loan Amount: $169,000
Cash Available for Purchase: $57,000
Cash Available for Renovation: $112,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $375,000
Situation:
Asset Based Lending recently financed a hard money fix and flip loan in Sandy Hook, Connecticut for an experienced investor and repeat borrower purchasing a detached single family. The subject property is a 2,900 square foot single family ranch, currently with 5 bedrooms and 3 bathrooms that will be converted to 4 bedrooms and 2.5 bathrooms. The $112,000 scope of work for renovations additionally includes gutting the kitchen and bathrooms, modernizing the floorplan, replacing the HVAC system, and other upgrades throughout.
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