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Manahawkin New Jersey Hard Money New Construction Loan

Address: Manahawkin, New Jersey
Borrower Profile: Repeat Borrower — Experienced Real Estate Investor
Work Description: New Construction — Single Family
Purchase Price: $390,000
Renovation Budget: $810,182 (Construction)
Loan Amount: $984,000
Cash Available for Purchase: $173,818
Cash Available for Renovation: $810,182 (Construction)
Loan Structure: 12 months interest only
Loan Purpose: Land Purchase & Property New Construction
ARV: $1,575,000
Manahawkin New Construction
New Jersey New Construction Loan
Situation:

­ABL recently funded a new construction single family project in Manahawkin New Jersey for an experienced real estate investor and repeat borrower. Plans for this property include creating a three story home with a two car garage on the bottom floor. The primary suite and three bedrooms will be on the third floor which can be reached by either stairs or elevator. Finishes in the home will be high end including custom cabinets, quartz countertops, large island, and tilework in all the bathrooms. Since this property is in a beach town the exterior façade will have cedar impression siding and the interior will have a beach-inspired color scheme. Construction for this project will take approximately 10 months to complete at which time the borrower intends to sell this property.

New Jersey Hard Money Lender
NJ Real Estate Investing