The Client

Repeat Borrower — Experienced Real Estate Investor
• Loan Purpose
Property Purchase & Rehabilitation
• Loan Structure
12 months interest only

The Investment

Gut Renovation & Remodel — Multi-Family 9
• Purchase Price
$910,000
• Renovation Budget
$865,000
• Loan Amount
$1,568,000
• Cash Available for Purchase
$182,000
• Cash Available for Renovation
$865,000

The ABL Partnership

Asset Based Lending recently funded a hard money fix and flip loan in Newark New Jersey. The borrower is a repeat borrower and experienced real estate investor. This blanket loan covers the purchase of one five-unit multifamily and two two-unit multifamily buildings. The properties were purchased for $910,000 with a renovation budget of $865,000 with total loan funded at 88% LTC. The borrower will hold the property in their rental portfolio with ABL’s rental refinance program. Minor renovations will occur on a unit-by-unit basis with each property building receiving upgraded electric, plumbing, and water heaters.

The Results

• After Repair Value
$2,370,000
• Sale Price
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