The Client

Experienced Builder
• Loan Purpose
New Construction Only
• Loan Structure
12 Months Interest Only

The Investment

• Purchase Price
$100,000
• Renovation Budget
$257,000 (Construction)
• Loan Amount
$257,000
• Cash Available for Purchase
$0
• Cash Available for Renovation
$257,000 (Construction)

The ABL Partnership

Asset Based Lending recently funded a hard money new construction loan for the development of a two-family property in the Ironbound section of Newark, NJ. The experienced builder and investor purchased the lot at a sheriff’s sale, and plans to keep the completed multi-family property for rental income.

The Results

• After Repair Value
$472,000
• Sale Price
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