The Client

Experienced Investor & Repeat Borrower
• Loan Purpose
Fix And Flip Loan
• Loan Structure
12 Months Interest Only
• Loan Used

The Investment

Gut Renovation - Two Family
• Purchase Price
$400,000
• Renovation Budget
$135,000
• Loan Amount
$455,000
• Cash Available for Purchase
$320,000
• Cash Available for Renovation
$135,000

The ABL Partnership

Asset Based Lending recently funded a hard money loan for a fix and flip project in Ozone Park, New York. The borrower is an experienced investor and repeat borrower purchasing a semi-detached 1,900 square foot single family in Queens. The plan is to use the $135,000 construction budget to complete a total gut renovation in addition to converting the 3-story single-family into a 2 family house.

The Results

• After Repair Value
$700,000
• Sale Price
• Return on Investment
• Project Payoff
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