The Client

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

The Investment

Gut Renovation - Multi-Family 3
• Purchase Price
$240,000
• Renovation Budget
$74,000
• Loan Amount
$282,000
• Cash Available for Purchase
$208,000
• Cash Available for Renovation
$74,000

The ABL Partnership

Asset Based Lending recently funded a hard money fix and flip loan for an experienced investor at 90% Loan To Cost and 75% Loan To ARV. The subject property is a 2800 sqft 3 family home in Newark that needs approximately $74,000 worth of rehab. The scope of work for renovations includes 2 new furnaces, gutting all kitchens and bathrooms, replacing the flooring throughout and adding a 2nd bedroom to one of the existing units.

The Results

• After Repair Value
$378,000
• Sale Price
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