Fix & Flip

Fix-and-Flip · Homestead, FL

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

Fix-and-Flip · Homestead, FL

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

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