A Palm Beach County investor found a 3/1 in Lake Worth Beach for $195,000 - original 1960s construction, all original finishes, roof past useful life. Updated 3/2s in the area: $340K-$370K.
LOAN AMOUNT
$285,500
Adding a bathroom was central to the value thesis. The $110K renovation budget included a bath addition, full kitchen remodel, new roof, and exterior paint. Needed 100% of rehab covered.
Adler Capital funded $285,500 - 90% purchase plus 100% rehab - in 9 days. Draw schedule structured to release roofing and bathroom addition funds first.
The Outcome
Sold for $362,000. Net profit: $67,000. A lean, fast deal - investor had all capital recycled and redeployed within 7 months.
Deal Highlights
LOAN AMOUNT
$285,500
PURCHASE PRICE
$195,000
RENOVATION BUDGET
$110,000
FINANCING
90% LTV + 100% Rehab
AFTER-REPAIR VALUE
$355,000
PROJECT DURATION
7 Months
More Deals
See how Adler Capital has structured financing across property types, markets, and deal sizes.
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.
A New York investor acquiring an 8-unit brownstone in Crown Heights - $3,800,000 purchase, 95% occupied, $34,000/month gross rent. Seller needed to close in 30 days or the deal was dead.
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.
