The Client

• Loan Purpose
Fix And Flip Loan
• Loan Structure
12 Months Interest Only
• Loan Used

The Investment

Gut Renovation Of Single Family Property
• Purchase Price
$284,900
• Renovation Budget
$68,000
• Loan Amount
$295,000
• Cash Available for Purchase
$227,000
• Cash Available for Renovation
$68,000

The ABL Partnership

Asset Based Lending recently funded a hard money loan for a fix and flip project in Ridgefield Park, New Jersey. The investor found this property on the MLS with the help of a realtor, who also found his previous project. The $68,000 scope of work is a fairly extensive partial gut rehab and includes new roofing and siding, gutting the kitchen and bathrooms, installing HVAC, finishing the basement, and even opening up the floor plan for a more modern design.

The Results

• After Repair Value
$455,000
• Sale Price
• Return on Investment
• Project Payoff
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