Asset Based Lending recently funded a hard money fix and flip loan in Far Rockaway New York. The borrower is an experienced real estate investor and first time ABL borrower. The property is a four-unit multifamily with two units being 1-bedroom, 1-bathroom and two units being 2-bedroom, 1-bathroom measured at a combined total 3,070 square feet. The property exterior will receive a new roof, siding, fencing, and 48 new windows. Each unit will receive new kitchen cabinets, new hardwood floors, new HVAC systems, washer & dryer installed, and brand new bathrooms with higher end finishes. Renovation is expected to take eight months with final sale occurring shortly after completion.
