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 South Florida investor identified a fully occupied 4-unit in Hialeah - all 2/1 units, long-term tenants, $6,800/month gross rent. Purchase: $620,000. Cap rate coming in at 5.8% with upside on turnover.
A high-net-worth investor found a tenant-ready 4/3 in West Boca - $625,000 purchase, existing tenant paying $5,200/month on a renewable lease. Zero work needed, just close and collect.
A Broward County investor acquired an 8-unit apartment building in Deerfield Beach - $1,450,000 purchase, rents averaging $1,300/month but market was at $1,650+. Classic value-add play.
