Roosevelt NY Hard Money Loan For Fix And Flip
Address: Roosevelt, NY
Borrower Profile: Experienced Investors
Work Description: Fix & Flip - Single Family
Purchase Price: $219,000
Renovation Budget: $66,000
Loan Amount: $241,000
Cash Available for Purchase: $175,000
Cash Available for Renovation: $66,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $420,000
Situation:
Asset Based Lending recently funded a hard money loan for a fix and flip project in Roosevelt, New York. This 3 bedroom 1.5 bathroom single family on Long Island needs about $66,000 worth of rehab to bring it up to market standards. The scope of work for renovation includes gutting the kitchen and bathrooms, finishing the basement, and other cosmetic upgrades throughout.
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