Asset Based Lending recently funded a fix and flip loan for a new borrower and experienced real estate investor in Elizabeth New Jersey. This borrower came to ABL needing to secure financing as quickly as possible to purchase the property before the foreclosure proceedings began. This property requires cosmetic interior and exterior renovations. For the exterior, the borrower will update the exterior with new siding and minor landscaping. For the interior update the borrower will repaint the kitchen cabinets, install new quartz countertops, update the electrical fixtures, and refinish the hardwood throughout the home. Renovations for this project are expected to last at least six months, and at the time the borrower intends to list this property for final sale.
