The Client

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

The Investment

Gut Renovation - Single Family
• Purchase Price
$197,000
• Renovation Budget
$85,000
• Loan Amount
$253,000
• Cash Available for Purchase
$168,000
• Cash Available for Renovation
$85,000

The ABL Partnership

Asset Based Lending was glad to recently finance a hard money loan for a team of repeat borrowers and experienced investors purchasing their next fix and flip project. The subject property in Denville, NJ is a 1,400 sqft single family home with 3 bedrooms and 1 bathroom. The $85,000 scope of work for renovations includes adding a full upstairs including an additional bathroom, installing new HVAC, repairing the roof, replacing windows, and gutting the kitchen and bathroom.

The Results

• After Repair Value
$380,000
• Sale Price
$387,000
• Return on Investment
• Project Payoff
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