Hard Money Loan For Fix And Flip In Linden NJ
Address: Linden, NJ
Borrower Profile: Experienced Investor & Repeat Borrower
Work Description: Fix & Flip - Single Family
Purchase Price: $230,000
Renovation Budget: $75,000
Loan Amount: $274,000
Cash Available for Purchase: $199,000
Cash Available for Renovation: $75,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $398,000
Situation:
Asset Based Lending recently funded a hard money loan for an extremely experienced repeat borrower purchasing a single family fix and flip in Linden, New Jersey. The subject property is a 4 bedroom 2 bathroom 1500 square foot single family purchased through a Sheriff Sale in need of approximately $75,000 worth of work. The scope of work for renovation includes gutting the kitchen and bathrooms, refinishing the floors, adding a new HVAC system, finishing the basement, and upgrading the roof.
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