Situation:

Our investors have their work cut out for them with this property! Asset Based Lending recently funded a $75,000 cash out and refinance hard money loan for a property that needs a major renovation in Newark, NJ. These investors plan on starting with the roof, by removing 1500 square feet (and seven layers) of roofing, removing and replacing plywood, and installing top of the line roofing shingles. When they move to the interior of the property, they plan on pulling down all wood paneling and replacing it with modern sheetrock. A fresh coat of paint will be added throughout the property. The kitchen and bathroom will be completely renovated, and new flooring, cabinets and appliances will be installed! Along with cosmetic upgrades, our investors plan on installing two new furnaces and installing radiators and baseboard heating throughout the home. We can’t wait to see the finished product!