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Hard Money Loan For Fix And Flip In Somerset NJ

Address: Somerset, NJ
Purchase Price: $115,000
Renovation Budget: $67,000
Loan Amount: $154,000
Cash Available for Purchase: $87,000
Cash Available for Renovation: $67,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $245,000
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Situation:

This father and son real estate investing team found Asset Based Lending on Instagram. ABL financed a $154,000 hard money fix and flip loan for the purchase and rehab of a single family home in Somerset, NJ. The scope of work for renovations is extensive, and includes repairing termite damage and replacing the floors throughout the property. In addition, the kitchens and bathrooms will be completely gutted, the floor plan will be opened, and other cosmetic upgrades will be completed throughout.

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