Asset Based Lending funded a hard money fix and flip loan for a property purchased out of foreclosure in Melville, New York. The investment team is made up of a dentist/real estate investor and a general contractor/real estate investor. The subject property is a 2,870 sqft 4 bed 4 bath single family on a 1 acre lot. The $148,000 scope of work for renovations includes refinishing the basement, adding a 2nd central air zone, refinishing the hardwood floors, opening up the floor plan, gutting the bathrooms and kitchen, as well other cosmetic upgrades throughout.
