Asset Based Lending recently funded a hard money fix and flip loan in Denville NJ for a repeat borrower and experienced investor. This loan is a blanket loan, incorporating the purchase and rehab of two separate single family properties on the same street. The first property will get an additional bedroom, making it a 1200 square foot 3 bed / 2 bath. The scope of work also includes new windows, updated electrical system and HVAC as well as a renovated kitchen. The second property will get an additional half bathroom, resulting in an 1100 square foot 3 bed / 2.5 bath single family home. The scope of work for renovations is similar to the first property, including new windows and HVAC as well as a renovated kitchen.
