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Purchase Only Loan In Jersey City NJ Funded By Hard Money Lender

Address: Jersey City, NJ
Borrower Profile: Experienced Investor & Attorney
Purchase Price: $335,000
Renovation Budget: $0
Loan Amount: $150,000
Cash Available for Purchase: $150,000
Cash Available for Renovation: $0
Loan Structure: 12 Months Interest Only
Loan Purpose: Property Purchase Only
ARV: $350,000 (As-Is)
Jersey City NJ hard money lender

Situation:

This real estate investor in Jersey City, NJ came to Asset Based Lending in need of a quick-close hard money loan for the purchase of a mixed use building. The borrower chose to fund minor renovations out of his own pocket including updating the electrical system, new coats of pain, updating the bathrooms and kitchens, as well as repairing the floors.

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