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 Broward County investor found a 4/3 waterfront in Pompano - dated 1990s finishes, no pool, original kitchen. Priced at $780K. Updated waterfront homes with pools were trading above $1.2M.
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 4-bedroom Hyde Park colonial - kitchen from 1978, two non-functional bathrooms, knob-and-tube wiring throughout. Purchase: $475,000. Renovated comps in the same blocks were trading at $785K-$820K.
