Valley Stream Long Island Hard Money Loan For Fix And Flip
Address: Valley Stream, NY
Borrower Profile: Repeat Borrower
Purchase Price: $485,000
Renovation Budget: $0
Loan Amount: $375,000
Cash Available for Purchase: $375,000
Cash Available for Renovation: $0
Loan Structure: 12 Months Interest Only
Loan Purpose: Property Purchase Only
ARV: $640,000
Situation:
Asset Based Lending recently funded a purchase only hard money loan for a real estate investor and repeat borrower looking to buy and flip a two family property in Valley Stream, New York. This borrower is also a realtor, and is using his considerable knowledge of the local market to find under-valued investment properties in great neighborhoods that can either be quickly flipped or held for rental income. This property requires less than $10,000 in rehab, which the borrower has opted to fund out of his own pocket.
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