Situation:

Asset Based Lending recently funded a hard money loan for a fix and flip investment in Yonkers, New York. This repeat borrower and experienced investor is buying the property from another investor who found the deal at an auction. The property was damaged in Hurricane Sandy, but is situated on a large lot in a very desirable neighborhood. The scope of work for renovations includes fixing the roof, new HVAC, gutting the kitchen and bathrooms, as well as new paint and flooring throughout.