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 Hollywood investor picked up a 3/2 ranch home one block from Hollywood Beach for $385,000. Dated 1980s finishes, no impact windows, original roof. Comps for updated product: $650K-$680K.
An 8-unit beachfront apartment building with strong mix of short-term and mid-term traveling nurse tenants.
Renovated 1940s Spanish-style duplex in the trendy Northwood historic district.
