Hard Money Purchase Loan In Elmont NY
Address: Elmont, NY
Borrower Profile: Experienced Contractor
Work Description: Fix & Flip - Single Family
Purchase Price: $393,000
Renovation Budget: $0
Loan Amount: $240,000
Cash Available for Purchase: $240,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Property Purchase Only
ARV: $550,000
Situation:
After the deal fell through with a conventional lender, the investor came to Asset Based Lending for quick-close purchase loan in order to buy this single family home in Nassau County, NY. The investor, an accountant for the State, will be funding the cosmetic rehab of this 2,075 sqft 6 bed / 3 bath home with his own funds.
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