Hard Money New Construction Loan in Jersey City NJ
Address: Jersey City, NJ
Borrower Profile: Experienced Investor
Work Description: New Construction - 2 Unit Condo
Purchase Price: $563,650
Renovation Budget: $370,000
Loan Amount: $703,000
Cash Available for Purchase: $338,000
Cash Available for Renovation: $370,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Land Purchase And New Construction
ARV: $1,432,000
Situation:
This repeat borrower is partnered with a builder who has completed hundreds of projects as well as two other experienced flippers and new construction investors. It will take nine to ten months to complete the construction of both units and they will be decked out with high end finishes, plus a roof deck and garage. With so much experience under their belts, this investing team is sure to succeed.
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