The Client

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

The Investment

Gut Renovation - Single Family
• Purchase Price
$365,000
• Renovation Budget
$88,000
• Loan Amount
$361,000
• Cash Available for Purchase
$254,950
• Cash Available for Renovation
$88,000

The ABL Partnership

Asset Based Lending recently funded a hard money loan for an experienced real estate investor buying a fix and flip property in White Plains, New York in need of a gut renovation. The subject property is a single family REO, currently 1,400 square feet with 3 bedrooms and 2 bathrooms. The $88,000 scope of work includes adding an additional 1,400 square feet with 2 additional bedrooms and 1 additional bathroom, installing a new roof and gutters, exterior landscaping, upgrading the electrical systems, opening the floorplan between kitchen and living room, and other upgrades throughout.

The Results

• After Repair Value
$650,000
• Sale Price
• Return on Investment
• Project Payoff
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