Long Island NY Hard Money Fix And Flip Loan
Address: Sag Harbor, NY
Purchase Price: $1,400,000
Renovation Budget: $550,000
Loan Amount: $1,450,000
Cash Available for Purchase: $900,000
Cash Available for Renovation: $550,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $2,400,000
Situation:
This Long Island real estate investor found ABL through an online search. The scope of work for this $550,000 Suffolk County renovation includes a new pool, finishing the basement, removing the chimney and fireplace, new siding, new appliances, and totally gutting the kitchen and bathrooms. All finishes will be high-end to match market demand.
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