The Client

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

The Investment

Fix & Flip - Single Family
• Purchase Price
$326,550
• Renovation Budget
$110,000
• Loan Amount
$359,000
• Cash Available for Purchase
$249,000
• Cash Available for Renovation
$110,000

The ABL Partnership

Asset Based Lending recently funded a hard money loan for a fix and flip project in Smithtown, NY. The borrower is an experienced real estate investor that picked up this property in decent shape at the local auction. The scope of work for this 5 bed / 4 bath single family home in Long Island includes burying the pool, replacing the roof, installing new hardwood floors throughout, as well as gutting the kitchen and bathrooms.

The Results

• After Repair Value
$750,000
• Sale Price
• Return on Investment
• Project Payoff
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