Hard Money Loan For Fix And Flip In Denville New Jersey
Address: Denville, NJ
Borrower Profile: Repeat Borrower & Experienced Investor
Work Description: Gut Renovation - Single Family
Purchase Price: $197,000
Renovation Budget: $85,000
Loan Amount: $253,000
Cash Available for Purchase: $168,000
Cash Available for Renovation: $85,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $380,000
Sale Price: $387,000
Time To Pay Off:
Exterior – Before
Exterior – After
Situation:
Asset Based Lending was glad to recently finance a hard money loan for a team of repeat borrowers and experienced investors purchasing their next fix and flip project. The subject property in Denville, NJ is a 1,400 sqft single family home with 3 bedrooms and 1 bathroom. The $85,000 scope of work for renovations includes adding a full upstairs including an additional bathroom, installing new HVAC, repairing the roof, replacing windows, and gutting the kitchen and bathroom.
Outcome:
Kitchen – Before
Bathroom – Before
Living Room – Before
Upstairs – Before
Kitchen – After
Bathroom – After
Living Room – After
Upstairs – After
Get Started
