A dated waterfront pool home in Coral Ridge with great bones and original terrazzo flooring.
LOAN AMOUNT
$1,050,000
Competing against cash offers with only 7 days to close.
Approved and wired $1,050,000 in 7 business days, allowing the investor to secure the contract at a $60K discount.
The Outcome
Sold for $1,475,000. Investor cleared $245,000 after debt service and closing fees.
Deal Highlights
LOAN AMOUNT
$1,050,000
PURCHASE PRICE
$880,000
RENOVATION BUDGET
$260,000
FINANCING
90% LTV + 100% Rehab
AFTER-REPAIR VALUE
$1,450,000
PROJECT DURATION
8 Months
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