The Client

Repeat Borrower & Experienced Investor
• Loan Purpose
Property Purchase Only
• Loan Structure
12 Months Interest Only
• Loan Used

The Investment

Purchase Only - Multi Family
• Purchase Price
$291,000
• Renovation Budget
$0
• Loan Amount
$180,000
• Cash Available for Purchase
$171,000
• Cash Available for Renovation

The ABL Partnership

Asset Based Lending recently funded a hard money fix and flip loan for a multi-family 3 in Irvington, NJ for a repeat borrower. The borrower had financing lined up with a conventional lender who backed out at the last minute, so ABL was asked to rescue the deal. The subject property is a fully occupied double lot, with a buildable area for the future. Fully rented as-is, the property needs little to no renovations. The borrower intends to transition the property to a long term rental loan soon after acquisition, and hold the property for his rental portfolio.

The Results

• After Repair Value
$300,000 (as-is)
• Sale Price
• Return on Investment
• Project Payoff
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