Paterson NJ Hard Money Fix And Flip Loan
Address: Paterson, NJ
Purchase Price: $172,724
Renovation Budget: $39,500
Loan Amount: $169,000
Cash Available for Purchase: $129,500
Cash Available for Renovation: $39,500
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $285,000
Situation:
Asset Based Lending recently funded a hard money loan for a fix and flip investment in Paterson, New Jersey. This repeat borrower found the partially occupied multifamily property through an online auction. The scope of work for renovations includes a gut rehab of the bathrooms and kitchens, updating the siding and windows, and replacing the doors throughout.
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