A seasoned South Florida investor spotted a dated 3/2 in Coconut Grove - great bones, terrible finishes. Asking: $310,000. Comps for fully renovated homes were hitting $620K-$650K.
LOAN AMOUNT
$495,000
Competing against two cash buyers, needed to close in under 14 days, and required 100% of a $145K renovation budget covered - kitchen gut, new flooring, landscaping, full primary bath remodel.
Adler Capital funded $495,000 - 90% of purchase plus 100% of rehab - with approval in 48 hours and closing in 11 days. Draw schedule released funds at each renovation milestone.
The Outcome
Listed at $649,000, went under contract in 6 days. After loan payoff and costs, investor netted $127,000 - their best flip in two years. Two more deals followed with Adler Capital.
Deal Highlights
LOAN AMOUNT
$495,000
PURCHASE PRICE
$310,000
RENOVATION BUDGET
$145,000
FINANCING
90% LTV + 100% Rehab
AFTER-REPAIR VALUE
$640,000
PROJECT DURATION
9 Months
More Deals
See how Adler Capital has structured financing across property types, markets, and deal sizes.
Ocean-view triplex in St. Augustine generating steady year-round vacation rental revenue.
A Coral Gables Mediterranean-style home - 4/3, original 1970s kitchen and baths, popcorn ceilings throughout. Purchase: $695,000. Updated homes in the same streets were trading at $1.1M+.
A first-time STR investor found a 4-bedroom home two miles from Disney World - projected to generate $8,500/month average across peak and off-peak seasons. Purchase: $520,000.
