The Client

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

The Investment

Gut Renovation - Two Family
• Purchase Price
$205,000
• Renovation Budget
$150,000
• Loan Amount
$319,000
• Cash Available for Purchase
$169,000
• Cash Available for Renovation
$150,000

The ABL Partnership

Asset Based Lending recently funded a hard money loan for a team of experienced developers and multiple-time repeat borrowers. The $319,000 loan is a full gut renovation down to the studs of a multi-family 2 in Jersey City, NJ. The subject property is a 2,058 square foot home with 1 3 bed / 1 bath unit and 1 3 bed / 2 bath unit. The $150,000 renovation includes a total overhaul of the property including reorganizing the floorplan to move the kitchens and bedrooms and open the layout.

The Results

• After Repair Value
$525,000
• Sale Price
$649,000 (Listed)
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