Situation:

This team of investors came to Asset Based Lending seeking a hard money loan to fund their fix and flip deal in Jersey City, New Jersey. The plan for the property rehab is to complete a high-end renovation to the multi-family building using a contractor that the investors have worked with on 9 previous projects. The scope of work includes renovating all of the interior spaces as well as the building facades. In addition, all mechanical and electrical systems will be replaced.