The Client

Experienced General Contractor
• Loan Purpose
Fix And Flip Loan
• Loan Structure
12 Months Interest Only

The Investment

Gut Renovation - Single Family
• Purchase Price
$217,500
• Renovation Budget
$65,000
• Loan Amount
$239,000
• Cash Available for Purchase
$174,000
• Cash Available for Renovation
$65,000

The ABL Partnership

Asset Based Lending recently financed a hard money fix and flip loan for a project in Long Island, New York. The investor, an experienced general contractor, found the 1,100 square foot single family home through the help of a local realtor and immediately put it under contract. The renovation of this 3 bed/2 bath home is expected to take 6-8 weeks and cost $65,000. The scope of work includes new roof, siding and front entrance, as well as a nearly full interior gut with mid-grade finishes.

The Results

• After Repair Value
$370,000
• Sale Price
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