Luxury 2-bedroom oceanfront condo generating strong long-term executive rental income.
LOAN AMOUNT
$950,000
Condo association had low reserves, making conventional secondary market Fannie Mae mortgages impossible.
Adler Capital originated a $950,000 30-year fixed non-warrantable DSCR mortgage at 1.28 coverage ratio.
The Outcome
Closed seamlessly with zero tax returns. Investor generates $1,940/mo in net cash flow.
Deal Highlights
LOAN AMOUNT
$950,000
PURCHASE PRICE
$1,250,000
MONTHLY RENT
$7,800
DSCR RATIO
1.28
LTV
76%
CLOSING TIME
18 Days
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