The Client

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

The Investment

Fix & Flip - Single Family
• Purchase Price
$200,000
• Renovation Budget
$61,000
• Loan Amount
$234,000
• Cash Available for Purchase
$173,000
• Cash Available for Renovation
$61,000

The ABL Partnership

Asset Based Lending recently funded a hard money loan for a fix and flip project in Old Bridge, NJ. The borrower is a multiple-time repeat borrower with ABL as well as an experienced real estate investor. The subject property is a 1,354 square foot single family home with 3 bedrooms and 1.5 bathrooms. The $61,000 scope of work for renovations is expected to take 90 days to complete and includes cosmetic upgrades and exterior repairs, gutting the kitchen and opening the floor plan, updating the bathrooms, and new paint and flooring throughout.

The Results

• After Repair Value
$356,000
• Sale Price
$369,000
• Return on Investment
• Project Payoff
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