Situation:

Asset Based Lending recently funded a hard money fix and flip loan in Keansburg New Jersey. The borrower is a repeat borrower and full-time real estate investor. The property was purchased for $153,000 with a renovation budget of $82,000 and total loan funded at 90% LTC and 70% LTV. The property is a single-family 3-bedroom, 1-bathroom measured at 1,420 square feet. Project will focus primarily on cosmetic updates like improving curb appeal with new siding, fresh paint, porch repair, and more. Renovation is expected to take two to three months with final sale occurring within two months of completion.