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Mount Vernon NY Fix And Flip Hard Money Loan

Address: Mount Vernon, NY
Purchase Price: $220,000
Renovation Budget: $120,000
Loan Amount: $286,000
Loan Structure: 12 months interest only
Loan Purpose: Property Purchase And Rehabilitation
ARV: $440,000
Hard money loan for fix and flip in mount vernon ny

Situation:

This borrower came to Asset Based Lending through a broker, after the deal fell apart working with another hard money lender. ABL was able to close the loan in under a week in order to meet the borrowers’ original plans. This project is a gut rehab of a three-family home, and is an REO found through auction.

NY private lender funded fix and flip
NY hard money lender funds fix and flip in mount vernon
Fix and flip funded by NY private lender