Staten Island NY Fix And Flip Funded By Hard Money Lender
Address: Staten Island, NY
Purchase Price: $271,500
Renovation Budget: $50,000
Loan Amount: $267,000
Cash Available for Purchase: $217,000
Cash Available for Renovation: $50,000
Loan Structure: 12 Months Interest Only
Loan Purpose: Fix And Flip Loan
ARV: $435,000
Situation:
Asset Based Lending recently funded a hard money loan for a fix and flip investment in Staten Island, New York. Built in 1998, this 2,000 square foot single family house suffered fire damage and requires an extensive renovation. The scope of work includes repairing the windows and roof, gutting the kitchen, replacing the air conditioning unit, repairing drywall, and gutting the both bathrooms. The investor will also install new hardwood floors and update the light fixtures.
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