The Client

Repeat Borrower
• Loan Purpose
Property Purchase And Rehabilitation
• Loan Structure
12 Months Interest Only
• Loan Used

The Investment

Gut Renovation Of Single Family Property
• Purchase Price
$185,000
• Renovation Budget
$78,000
• Loan Amount
$223,000
• Cash Available for Purchase
$145,000
• Cash Available for Renovation
$78,000

The ABL Partnership

Asset Based Lending funded a hard money fix and flip loan for a repeat borrower in Jersey City, New Jersey. This investor is a realtor and former FortuneBuilders student, so he and his partners came into the project with a solid business plan in mind. The project was a $78,000 gut renovation that included reducing the floor plan by one bedroom in order to add a bathroom and expand the remaining spaces.

The Results

• After Repair Value
$375,000
• Sale Price
$617,000
• Return on Investment
• Project Payoff
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