The Client

Experienced Investor & Contractor
• Loan Purpose
Fix And Flip Loan
• Loan Structure
12 Months Interest Only
• Loan Used

The Investment

Gut Renovation Of Single Family Property
• Purchase Price
$320,000
• Renovation Budget
$170,000
• Loan Amount
$390,000
• Cash Available for Purchase
$220,000
• Cash Available for Renovation
$170,000

The ABL Partnership

Asset Based Lending recently funded a hard money fix and flip loan for an extensive renovation project in Merrick, New York. The current property is a detached cape style single family with 4 beds and 1.5 bath covering about 1135 square feet. The scope of work for this project involves adding an additional 1100 square feet to the property, including a new bathroom and enlarged master bedroom.

The Results

• After Repair Value
$690,000
• Sale Price
• Return on Investment
• Project Payoff
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