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.
An experienced Boston investor acquired a historic Back Bay brownstone for $1,200,000 - in the same family for 40 years, untouched since the 1980s. Structure was sound, interior needed a complete overhaul.
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.
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.
