A Coral Gables Mediterranean-style home - 4/3, original 1970s kitchen and baths, popcorn ceilings throughout. Purchase: $695,000. Updated homes in the same streets were trading at $1.1M+.
LOAN AMOUNT
$940,000
The investor had significant equity in other properties but was cash-light. Needed maximum leverage on purchase plus full renovation budget for a $310K gut remodel including impact windows and pool resurfacing.
Adler Capital funded $940,000 - 90% LTV on purchase plus 100% of rehab budget - closed in 13 days before the competing buyer could line up their financing.
The Outcome
Sold for $1,155,000 - $45K under asking after a brief price reduction. Net profit after all costs: $167,000. Investor immediately deployed proceeds into a Kendall rental using a DSCR loan.
Deal Highlights
LOAN AMOUNT
$940,000
PURCHASE PRICE
$695,000
RENOVATION BUDGET
$310,000
FINANCING
90% LTV + 100% Rehab
AFTER-REPAIR VALUE
$1,180,000
PROJECT DURATION
11 Months
More Deals
See how Adler Capital has structured financing across property types, markets, and deal sizes.
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.
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.
A Middlesex County investor bought a 3/1 in Medford for $465,000 - original 1940s finishes, unfinished basement, needs full kitchen and bath. Updated 3/2s in Medford: $680K-$720K.
