The Client

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

The Investment

Vertical Addition - Single Family
• Purchase Price
$242,000
• Renovation Budget
$183,279
• Loan Amount
$382,000
• Cash Available for Purchase
$198,721
• Cash Available for Renovation
$183,279

The ABL Partnership

Asset Based Lending recently funded a hard money fix and flip loan in Garwood New Jersey. The borrower is a repeat borrower and full-time real estate investor. The property was purchased for $242,000 with a renovation budget of $183,279 and total loan funded at 90% LTC. This property is a single-family 3-bedroom, 2-bathroom that will receive a vertical addition and transform into 4-bedroom, 2.5 bathroom measured at 2,335 square feet. Renovation is expected to take three months with final sale occurring shortly after completion.

The Results

• After Repair Value
$630,000
• Sale Price
• Return on Investment
• Project Payoff
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