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Mount Kisco New York Fix And Flip Loan

Address: Mount Kisco, NY
Borrower Profile: Repeat Borrower — Full-Time Real Estate Investor
Work Description: Cosmetic Renovation — Single-Family Detached
Purchase Price: $378,000
Renovation Budget: $80,000
Loan Amount: $401,000
Cash Available for Purchase: $321,000
Cash Available for Renovation: $80,000
Loan Structure: 12 months interest only
Loan Purpose: Property Purchase and Rehabilitation
ARV: $750,000
Hard money loan NY
NY fix and flip loan
Situation:

Asset Based Lending recently funded a hard money fix and flip loan in Mount Kisco NY. The borrower is a repeat borrower and full-time real estate investor that acquired the property through a foreclosure auction. The property was purchased for $378,000 with a renovation budget of $80,000 with a total loan funded at 88% LTC. The property is a single-family 3-bedroom, 2-bathroom measured at 1,406 square feet. Renovation will focus mostly on the kitchen and bathroom, including cosmetic updates to the windows, siding, and roof. Kitchen will receive new cabinets, countertops, and stainless-steel appliances. Bathrooms will receive new tubs, vanities, toilets, tiles, and upgraded lighting. Project is expected to take four months with final sale occurring shortly after completion.

Direct hard money lender New York
NY loans for real estate investors
New York fix and flip loans
Asset based lending New York