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South Orange New Jersey Fix And Flip Loan

Address: South Orange, NJ
Borrower Profile: Repeat Borrower — Experienced Real Estate Investor
Work Description: Fix And Flip — Gut Renovation & Addition
Purchase Price: $711,000
Renovation Budget: $236,000
Loan Amount: $804,000
Cash Available for Purchase: $568,000
Cash Available for Renovation: $236,000
Loan Structure: 12 months interest only
Loan Purpose: Property Purchase & Rehabilitation
ARV: $1,314,000
NJ fix and flip
New Jersey hard money lender
Situation:

Asset Based Lending recently funded a hard money fix and flip loan in South Orange New Jersey. The borrower is a first-time borrower and experienced real estate investor. The property is a single-family 3-bedroom, 1.5-bathroom that will be converted into a 5-bedroom, 3.5-bathroom measured at 1,800 square feet. Property will receive new roof, new windows, refinished hardwood floors, new interior doors, and crown molding throughout. Addition will include master bedroom and ensuite bathroom along with new full bath and expansion of another bedroom. Kitchen will be completely gutted and receive new cabinets, quartz countertops, high-end stainless steel appliances, and eight-food island that seats up to six people. Bathrooms will also be completely gutted and receive new tile, vanities, showers, fixtures, etc. Project is expected to take approximately five months with final sale occurring shortly after completion.

NJ real estate investment
Hard money loans NJ
Direct hard money lender New Jersey
Fix and flip loans New Jersey