A Miami-Dade investor bought a distressed 3/2 in Homestead at $215,000 - roof damage, mold in primary bath, and full gut-level renovation needed. Comps for updated homes: $380K-$410K.
LOAN AMOUNT
$345,500
Homestead has fewer comps than Miami proper, making lender valuations conservative. The investor needed a lender willing to underwrite to an accurate ARV, not a lowball appraisal, with 90% LTV plus full rehab.
Adler Capital funded $345,500 - 90% of purchase plus $140K rehab - with a realistic ARV of $395,000 supporting the loan. Closed in 11 days.
The Outcome
Sold for $398,000. Net profit after all costs: $42,000 on an entry-level deal with minimal cash out of pocket. Investor reinvested into a larger Doral flip financed again through Adler Capital.
Deal Highlights
LOAN AMOUNT
$345,500
PURCHASE PRICE
$215,000
RENOVATION BUDGET
$140,000
FINANCING
90% LTV + 100% Rehab
AFTER-REPAIR VALUE
$395,000
PROJECT DURATION
8 Months
More Deals
See how Adler Capital has structured financing across property types, markets, and deal sizes.
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+.
An experienced Tampa investor acquired a 10-unit multifamily at $2,800,000 - 100% occupied but rents were 22% below market due to a decade of deferred maintenance and no unit upgrades.
An Austin builder had a fully permitted infill lot in South Austin - 2,800 sq ft modern farmhouse targeting the $900K+ resale market. Total build cost: $520,000.
