Situation:

Asset Based Lending recently funded a hard money loan for an experienced fix and flip investor in Bethpage, NY. The investor – who is also a licensed contractor – found this single family property at auction, and came to ABL for a quick close loan to secure the deal. The existing property is an 1,100 sqft 3 bed/2 bath in need of gut renovations to the bathrooms and kitchen. The investor also plans on extending the footprint to add an additional bedroom.