A deepwater canal ranch home in Las Olas with private dockage in need of full roof, seawall, and interior overhaul.
LOAN AMOUNT
$1,850,000
Seller demanded an expedited 12-day close with non-refundable deposit. Conventional lenders required 45+ days.
Funded a $1,850,000 bridge loan in 9 business days with structured milestone disbursements for seawall and interior finishes.
The Outcome
Property was staged and sold to an out-of-state cash buyer for $2,720,000. Sponsor realized a $385,000 net profit.
Deal Highlights
LOAN AMOUNT
$1,850,000
PURCHASE PRICE
$1,550,000
RENOVATION BUDGET
$450,000
FINANCING
90% LTV + 100% Rehab
AFTER-REPAIR VALUE
$2,650,000
PROJECT DURATION
11 Months
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