Situation:

Asset Based Lending is glad to fund another hard money loan in New Jersey for a long-time repeat borrower and very experienced real estate investor. The subject property is a multi-family 3 that consists of two 3 bed / 1 bath units and a 2 bed / 1 bath. The $51,000 scope of work for renovations is mostly cosmetic and includes updating the kitchens and bathrooms, adding a new roof, and other cosmetic improvements throughout. Once the rehab is complete, the borrower plans to refinance into a rental loan to keep the property as an income-producer.