The Client

Experienced Investor & Builder
• Loan Purpose
Cash Out And New Construction
• Loan Structure
16 Months Interest Only
• Loan Used

The Investment

New Construction - Single Family
• Purchase Price
$612,500
• Renovation Budget
$725,000
• Loan Amount
$1,100,000
• Cash Available for Purchase
$375,000 (Cash Out)
• Cash Available for Renovation
$725,000 (Construction)

The ABL Partnership

Asset Based Lending recently funded a hard money cash out and new construction loan for an extremely experienced builder and real estate investor in Nassau County, New York. The plan for the project is to demolish the existing house, sub-divide the lot (which is already approved), and build two new single family homes. Ultimately, each subject property will be approximately 4,000 square feet of livable space with 4 or 5 bedrooms and 4 or 5 bathrooms. The houses will have finished basements and high end finishes throughout.

The Results

• After Repair Value
$1,950,000
• Sale Price
• Return on Investment
• Project Payoff
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