A Philadelphia investor scooped up a distressed 3-bedroom rowhouse in Fishtown for $185,000. Gut renovation needed: $72,000. Comparable finished product in the neighborhood: $360K-$380K.
LOAN AMOUNT
$230,000
Fishtown flooded with cash buyers. Needed to close in 10 days with renovation funds available immediately. Local hard money was charging 13-14%.
Adler Capital funded $230,000 at 90% LTV plus full rehab, rate at 10.25% - well below competing hard money - closing in 9 days.
The Outcome
Modern kitchen, refinished hardwoods, new primary bath. Listed at $375,000, sold in 4 days with multiple offers. Net profit: $89,000.
Deal Highlights
LOAN AMOUNT
$230,000
PURCHASE PRICE
$185,000
RENOVATION BUDGET
$72,000
RATE
10.25%
SALE PRICE
$375,000
PROJECT DURATION
8 Months
More Deals
See how Adler Capital has structured financing across property types, markets, and deal sizes.
A Miami investor found a 6-unit walk-up in North Miami - newer roofs, partially updated units, $10,200/month gross rent. Purchase: $980,000. The cap rate was 6.1% and the area was rapidly gentrifying.
A Charlotte developer had 15 townhome lots in a fast-growing suburb - all pre-sold before breaking ground. Total project cost: $8,200,000.
Ocean-view triplex in St. Augustine generating steady year-round vacation rental revenue.
