The Client

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

The Investment

Gut Renovation - Two Family
• Purchase Price
$729,000
• Renovation Budget
$200,000
• Loan Amount
$783,000
• Cash Available for Purchase
$583,000
• Cash Available for Renovation
$200,000

The ABL Partnership

Asset Based Lending recently funded a hard money fix and flip loan in Long Beach NY. The borrower is a repeat borrower and full-time real estate investor. The property was purchased for $729,000 with a renovation budget of $200,000 and total loan funded at 84% LTC. This property is two-unit multi-family that totals 6-bedroom, 4-bathroom measured at approximately 3000 square feet. Gut renovation will focus on the four bathrooms and two kitchens. Other updates will include new electrical and plumbing being installed, as well as new floors and doors for each unit. Renovation is expected to take approximately 90 days and will be sold ASAP upon project completion.

The Results

• After Repair Value
$1,250,000
• Sale Price
• Return on Investment
• Project Payoff
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