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
$300,000
• Renovation Budget
$50,000
• Loan Amount
$305,000
• Cash Available for Purchase
$255,000
• Cash Available for Renovation
$50,000

The ABL Partnership

Asset Based Lending recently funded a hard money loan for a partially completed fix and flip project in Jersey City, New Jersey. The investor is buying the project from the previous owner who started the work, but the 2,300 sqft single family home still needs another $50,000 worth of renovations. The scope of work includes installing new floors throughout, gutting the kitchen and bathrooms, and finishing the home with higher end appliances and furnishings.

The Results

• After Repair Value
$446,000
• Sale Price
• Return on Investment
• Project Payoff
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